10 percent sales growth for Halfords

Despite a summer of wet weather, Halfords shareholders told of growth at AGM
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At its Annual General Meeting, to be held at 12:30 pm today, Halfords, will be announcing sales figures relating to the period from March 31st to July 13th.

Total sales growth in the 15 weeks was 10.3 percent, 7.2 percent on a like-for-like basis.

Instead of citing increased sales of iPods and satnav systems, Ian McLeod, the Halfords CEO, is to say:

"Overall sales have benefited from the introduction of both new product ranges, particularly in cycling, touring and camping, and from trading initiatives resulting in continued positive growth in each of our key trading areas."

In a pre-AGM statement, McLeod said:

"Halfords' sales performance since the trading update at the preliminary results has remained in line with our expectations. Our continued positive sales growth, achieved across each of our categories, continues to demonstrate the company's defensive and resilient qualities and maintains our confidence in our future growth prospects."

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