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Halfords performance strengthens full year earnings expectation.

Group remains cautious about the wider economic outlook in the near term and its impact on consumer spending.

CITY & CORPORATE

Halfords performance strengthens full year earnings expectation.

Group remains cautious about the wider economic outlook in the near term and its impact on consumer spending.

Group revenues in the 39 weeks to 1 January 2010 increased by 2.8 per cent with like-for-like sales increasing by 1.2 per cent. For the 13 weeks UK revenues increased by 1.6 per cent with like-for-like sales 0.2 per cent higher than the prior year. Continued economic weakness within its international markets resulted in Group revenues, in the quarter, increasing by 1.0 per cent with like-for-like sales declining by 0.4 per cent.

"We believe that Halfords brand strength allied to its leading customer offer in attractive markets will deliver sustainable earnings growth,’ said chief executive David Wild."While remaining cautious about the wider economic outlook in the near term and its impact on consumer spending, the board is now confident in delivering full year earnings growth in line with the upper end of market expectations."

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