Halfords rides the storm

Halfords has reported an 8 percent rise in full-year profits, higher than analyst forecasts
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Halfords reported profit before tax and exceptional items of £90.2m for the year to March 28th, up from £83.5m the year before.

Market analysts had expected profit of about £87.5m.

Nick Wharton and Paul McClenaghan, acting joint Managing Directors, said in a results statement::

"Sales of leisure products...gained momentum following the slow start to the season that was impacted by a cold and wet April. In comparison, the Easter period in 2007 benefited from warm, dry weather that helped to drive a strong sales performance."

Halfords has 450 stores, 10,500 staff, and an annual turnover of £797.4m, up from £744m in 2007.

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