Halfords pushes pedal to the metal as profits surge.
Operating profit £62.0m up 12.9 per cent (2008: £54.9m) for the 26 weeks to 2 October 2009.
Profit before tax for the 26 weeks to 2 October jumped to £60.9m from £49.1m in 2008.Revenue was up almost 3.8 per cent to £425.1m and by 1.7 per cent on a like for like basis. Multi-channel sales continue to expand rapidly, growing at approximately 50 per cent year on year to approximately £22m and now represent over 5% of Group revenues.
Commenting on the results, David Wild, Chief Executive, said: "Halfords is fast evolving into a true multi-channel retailer, with Halfords.com and our "wefit" services now making a significant contribution to overall sales and margins. Our approach of building on our unique market position with the addition of expert customer services is broadening our appeal to a wider consumer base, especially families. These opportunities provide the basis for long-term sustainable growth."
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