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Trading Update
Halfords Group plc (“Halfords”) is today announcing a trading update for the 26 weeks to 30 September 2005 in advance of publishing interim results on the 24 November 2005.
During the period, Halfords has continued to deliver positive like-for-like sales growth. Overall, sales increased by 4.7% over the equivalent period in 2004 and like-for-like sales1 increased by 2.6%2.
| Unaudited | 26 weeks to 30 September 2005 |
26 weeks to 1 October 2004 | |
| % | % | ||
| Turnover Analysis: | |||
| Total sales growth | 4.7 | 12.7 | |
| Total like-for-like sales growth1 | 2.6 | 10.6 | |
| Like-for-like growth from supermezzanines3 | 1.6 | 0.3 | |
| Like-for-like sales4 | 1.0 | 10.3 | |
Halfords has maintained its focus on maximising sales and increasing cash profitability; as expected, some dilution of gross profit percent has occurred, primarily due to sales mix.
Ian McLeod, Chief Executive, said:
“We are pleased that adherence to our growth strategy,
underpinned by our unique service proposition, has continued to
deliver a positive trading performance against strong comparatives
last year. As has been widely reported, this is a challenging
retail environment, but our resilience in the first six months
continues to give us confidence for the second half”.
Notes
- Like-for-like sales growth is based upon 374 stores, which reached their opening anniversary at or before 31 March 2005.
- Adjusting for the non-comparative Easter period last year underlying like-for-like sales growth is 4.1%. This is an improvement from the 2.7% like-for-like sales increase reported for the 11 weeks to 1 July at the AGM on 13 July 2005.
- This represents supermezzanine stores that have not reached their conversion anniversary.
- Converted supermezzanine stores that have reached their anniversary are included in the like-for-like sales growth of 1.0%. The company remains on track with its conversion programme and converted 20 stores during the period. These stores, together with four new store openings and one store relocation takes the total number of supermezzanines trading at 30 September 2005 to 82 stores compared to 57 at the financial year-end and 39 at the end of the equivalent period last year.
Interim Results
Halfords will announce its interim results for the 26 weeks ended 30 September 2005 on Thursday 24 November 2005, including a presentation for analysts and investors at 9.00 a.m. at City Presentation Centre, 4 Chiswell Street, London, EC1Y 4UP.
For further information:
Media
| Gainsborough Communications | |
| Andy Cornelius | 020 7190 1703 |
| Julian Walker | 020 7190 1705 |
Analysts
Halfords Group plc
Ian McLeod, Chief Executive
Nick Carter, Finance Director
Tony Newbould, Investor Relations
Notes to Editors:
Halfords Group plc (www.halfordscompany.co.uk)
Halfords is the UK’s leading auto, leisure and cycling products retailer with 402 stores and nearly 10,000 employees.
The Group sells 11,000 different product lines ranging from car parts and cycles through to the latest in-car technology, alloy wheels, child seats, roof boxes and the latest outdoor leisure and camping equipment. Halfords’ own brands include Ripspeed, for car enhancement, and Bikehut, for cycles and cycling accessories, including the Apollo and Carerra brands. Stores offer a “We’ll Fit It” service for car parts, child seats, satellite navigation and in-car entertainment systems, together with newer concepts such as Kidszone and Active Leisure.
Halfords is a FTSE 250 company. It was established in 1892 and was successfully floated on the London Stock Exchange in June 2004.
ENDS