Halfords reports sales growth

Halfords Group today released a trading update for the 52 weeks to 1st April 2005. Sales have increased by 8.6 per cent compared with the 53 weeks ended 2nd April 2004, and by 10.5 per cent compared with the 52 week period in the previous year.
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The company's Regulatory News Service statement said that Halfords has "achieved sales growth across all four of its key categories of car maintenance, car enhancement, cycling, and travel solutions, whilst continuing to focus on controlling costs."

Halfords expects to report results for the financial year "in line with management expectations".

Preliminary results for the 52 weeks to 1 April 2005 will be announced on 9th June. Retail analysts expect Halfords to post pre-tax profits of around £78m.

Halfords was floated by venture capitalists CVC Capital Partners and Permira last June. This raised £267m in an initial share sale.

The company's 367 stores continue to sell speed camera detection devices although there's a possible move by the government to ban such devices in the UK.

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