Halfords boosted by strong cycling performance
Halfords has posted an uplift in profit and sales following a strong performance in its cycling category.
In the six months to 26 September, group revenue rose by 3.3% to £893.3 million and by 4.1% on a like-for-like basis.
Retail revenue increased by 3.3% to £533.2 million and by 4% like-for-like as like-for-like motoring and cycling sales rose by 1.1% and 9% respectively.
Subscribe to TRBIn Halfords’ autocentre division revenue increased by 3.3% to £360.1 million and by 4.3% like-for-like.
Meanwhile, underlying pre-tax profit edged up 1% to £21.2 million.
Henry Birch, chief executive of Halfords, said: “I am very pleased to be announcing a strong set of HY26 results that show good financial, strategic and operational progress.
“Cycling was the stand-out performer, with like-for-like sales up 9%. Our consumer garages also performed particularly well, up around 8%, driven in part by the ongoing roll-out of our new format Fusion garages.”
Halfords said its cost savings programme is on track as it benefits from cost of goods sold through its Better Buying programme.
Looking ahead, Halfords said it is confident in delivering full year underlying pre-tax profit in line with expectations.
Birch added: “There are significant opportunities for us to create further value through improvements in our technology and data capability, which are key areas of focus for us as we plan for the future.
“While the operating environment remains unpredictable, our combination of needs-based products and services, as well as market leading positions in both motoring and cycling, give us the confidence that we will continue to grow our business in line with our plans.”
