Belfast Telegraph

Friday 18 April 2014

Profits boost for Halfords

Halfords rode out the storm in the retail sector after bicycle sales picked up pace during solid Christmas trading.

The firm, with 460 stores in the UK and Ireland, upgraded its full-year profit guidance after like-for-like retail sales increased 0.4% in the 15 weeks to January 11. Overall bike sales were down 1.6% but premium brands were up 33% and offset a "disappointing" start to Christmas.

The group said it expected pre-tax profits in the year to the end of March to be between £68m and £72m, compared with previous expectations of £66m to £70m.