Halfords annual profit to be at upper end of expectations
Halfords is expecting its annual profit to come in at the upper end of expectations as it works to strengthen the business for future growth.
In a trading update for the year to 3 April, the company said underlying pre-tax profit is anticipated to be around the top end of the consensus range of £36 million to £41.2 million due to gross margin expansion and well managed costs.
Subscribe to TRBGroup like-for-like sales grew by 4.8% in the period with retail like-for-likes rising by 4.1%. Motoring and cycling like-for-like sales increased by 2.9% and 6.4% respectively while autocentres sales rose by 5.8%.
Henry Birch, Halfords chief executive, said: “I am pleased to see the positive results that are starting to materialise from the ‘optimise’ phase of our ‘Fit for the Future’ strategy as we focus on driving operational excellence and strengthening our foundations for future growth.
“This momentum further underlines the significant potential that exists within the Halfords business, and I look forward to sharing more detail on our progress at our full-year results announcement in June.”
Halfords said trading in March and April has been in line with expectations despite the conflict in the Middle East contributing to an uncertain macroeconomic environment.
The company said it remains comfortable with consensus expectations for FY27 of underlying pre-tax profit of £42 million to £48.6 million.
