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Bikes and motoring chain exceeds 1H09 forecasts and ups full-year expectations

Cycles push Halfords sales higher

Halfords says its group sales increased by 3.8 per cent in the second quarter ending October 2nd (compared to the equivalent period last year), representing like-for-like sales growth of 2.2 per cent.

Year-on-year sales for the first half were up 3.4 per cent, and 1.7 per cent on a like-for-like basis.

In today’s trading statement Halfords said it is confident that the Group will deliver half-year profit before tax in the range £59m-£61m, above analyst estimates.

Halfords added that sales momentum within leisure during the first quarter continued into the second quarter, particularly within cycling.

It also stated it had successfully expanded and enhanced its ranges in markets such as camping that have benefited from the recent increased consumer interest in UK holidays.

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