Sales and profits increase at Halfords

Halfords turnover at year-end on 31st March 2002 was £528.7m, an uplift of 4 percent. Operating profit was up 29.6 percent to £54.3m.

In April, Boot Co PLC announced its decision to either demerge or sell Halfords, and interested parties may now make firm bids.

"Halfords is a strong business with good growth prospects and the scale to stand alone as a public company," said a statement from Boots Co PLC.

Boots acquired Halfords in 1989. The PLC would like £400m for Halfords but most analysts say the 400-store retailer is worth only half this.