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23/11/2006
“ With like-for-like sales up 6.5% we are pleased with Halfords trading performance during the first 26 weeks of this financial year. The Group has maintained its momentum within Car Enhancement and Car Maintenance, and we have also delivered a strong performance within the Leisure categories of Cycling and Travel Solutions. Growing sales in all key categories has therefore provided us with further confidence in our trading prospects for the second half ”.
Enquiries
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.
Interim Results to 29 September 2006
Halfords, the UK’s leading auto, leisure and cycling products retailer, announces its interim results for the 26 weeks to 29 September 2006.
Financial Highlights- Revenue £369.2m up 9.3% (2005: £337.7m)
- Like-for-like sales up 6.5% with growth in all key categories
- Operating profit £48.5m up 5.7% (2005: £45.9m)
- Profit before tax and exceptional items £43.5m up 7.9% (2005: £40.3m)
- Profit before tax £40.9m up 1.5% (2005: £40.3m)
- Basic earnings per share before exceptional items 13.5p up 11.6% (2005: 12.1p)
- Basic earnings per share 12.7p up 5.0% (2005: 12.1p)
- Interim dividend up 8.8% to 4.35p (2005: 4.0p)
- In the 6 weeks since 29 September trading in line with internal expectations
- Significant reduction in margin dilution at 40 bps (2005: 140 bps)
- 13 new store openings during the period
- First standalone Bikehut store opened on 9 November 2006 in Brighton
- Debt re-finance, comprising £180m non-amortising term loan and £120m revolving credit facility, generating interest margin benefit and greater capital flexibility
- 5.2m shares purchased for £16.0m, representing one third of the £50m share buy-back programme
“ With like-for-like sales up 6.5% we are pleased with Halfords trading performance during the first 26 weeks of this financial year. The Group has maintained its momentum within Car Enhancement and Car Maintenance, and we have also delivered a strong performance within the Leisure categories of Cycling and Travel Solutions. Growing sales in all key categories has therefore provided us with further confidence in our trading prospects for the second half ”.
Enquiries
| Halfords Group plc |
|
| Tony Newbould, Investor Relations | 01527 513113 |
| 07753 809522 | |
| Gainsborough Communications | |
| Andy Cornelius |
0207 190 1703 |
| Julian Walker | 0207 190 1705 |
Notes to Editors
Halfords Group plc
Halfords is the UK’s leading auto, leisure and cycling products retailer, with 420 stores and 10,000 employees. The company was established in 1892 and floated on the London Stock Exchange in June 2004. 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 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 entertainment systems and a “We’ll repair it” service for cycles.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.
In addition to the corporate website, www.halfordscompany.com, Halfords operates an online retail website, which can be found at www.halfords.com.
View the full press release in PDF format