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Halfords Group PLC on Thursday reported broadly stable performance in its first half, as revenue edged up slightly, while profit fell a little below the previous year’s level. The Redditch, England-based motoring and cycling retailer posted £893.3 million in revenue for the 26 weeks that ended September 26, up 3.3% from £864.8 million a year earlier. This mirrored a 3.3% rise in retail sales, which edged up to £533.2 million from £516.1 million. Revenue from autocentres also rose 3.3% to £360.1 million from £348.7 million. Pretax profit was down 3.4% to £17.2 million from £17.8 million. Still, the firm booked underlying pretax profit of £21.1 million, about 1.0% ahead of £21.0 million on-year. Halfords forecast full-year underlying profit in line with consensus, ranging from £36.0 million to £40.7 million, compared with £38.4 million the year prior. It has declared an interim dividend per share of 3.0 pence, unchanged on-year. Operating costs advanced 7.9% to £433.0 million in the first half from £401.1 million, with the company citing inflationary pressures. Capital expenditure increased to £31.1 million from £23.6 million, though Halfords backed its annual capex target range of £60 million to £70 million. Cost-saving plans are in progress, and operations at the firm’s Coventry warehouse have returned to normal following ‘management system issues’. Related costs incurred in first half totalled £3.1 million, the company said, ‘at the low end of earlier guidance.’ Halfords shares fell 3.1% to 139.20 pence on Thursday morning in London. Chief Executive Henry Birch, who took on the role earlier this year, commented: ‘Looking ahead, 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.’ Birch told the PA news agency that Halfords was in a good position following Wednesday’s UK budget announcement. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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