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24/11/2005
“Our growth strategy, underpinned by our unique service proposition, has continued to deliver positive results despite a challenging retail environment. In the six weeks since 30 September 2005 Halfords’ like-for-like sales performance has continued to strengthen, particularly within cycling and in-car technology, giving us confidence for the second half of our financial year”.
Notes:
Enquiries
Halfords Group plc
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 Carrera brands. Stores offer a “We’ll Fit It” service for car parts, child seats, satellite navigation and in-car technology systems, together with newer concepts such as Kidszone.
Halfords is a FTSE 250 company. It was established in 1892 and was successfully floated on the London Stock Exchange in June 2004.
www.halfordscompany.com
www.halfords.com
View the full press release in PDF format
Interim Results to 30 September 2005
Strong sales growth and cash
generation
Halfords, the UK’s leading auto, leisure and cycling products retailer, today announces its interim results for the 26 weeks to 30 September 2005.
Financial Highlights- Revenue up 4.7% to £337.7m (2004: £322.7m)
- Like-for-like1 sales up 2.6%
- Operating profit up 8.7% to £46.0m (2004: £42.3m)
- Pre-tax profit up 20.6% to £40.4m (2004: £33.5m)
- Strong cash generation reduces net bank borrowings by £11.6m
- Interim dividend up 8.1% to 4.0 pence per share (2004: 3.7 pence)
- Strong sales growth in Car Enhancement and Cycling
- Store portfolio now 402 stores with further expansion planned in the Republic of Ireland
- On track to deliver 100 supermezzanine stores by the year end
- Tight cost control
“Our growth strategy, underpinned by our unique service proposition, has continued to deliver positive results despite a challenging retail environment. In the six weeks since 30 September 2005 Halfords’ like-for-like sales performance has continued to strengthen, particularly within cycling and in-car technology, giving us confidence for the second half of our financial year”.
Notes:
- Like-for-like sales growth is based upon 374 stores, which reached their opening anniversary at or before 1 April 2005.
- From 2 April 2005 the Group is required to prepare its consolidated financial statements in accordance with International Financial Reporting Standards (“IFRS”). These interim results for the period ending 30 September 2005 have been prepared in accordance with the accounting policies which have been adopted under IFRS and which are published on the Halfords website (www.halfordscompany.com).
Enquiries
| Halfords Group plc |
on Thursday 24 November only
020 7190 1705 |
| Ian McLeod, Chief Executive | |
| Nick Carter, Finance Director | |
| Tony Newbould, Investor Relations | |
| Gainsborough Communications |
020 7190 1703 |
| Andy Cornelius | |
| Julian Walker |
Halfords Group plc
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 Carrera brands. Stores offer a “We’ll Fit It” service for car parts, child seats, satellite navigation and in-car technology systems, together with newer concepts such as Kidszone.
Halfords is a FTSE 250 company. It was established in 1892 and was successfully floated on the London Stock Exchange in June 2004.
www.halfordscompany.com
www.halfords.com
View the full press release in PDF format