Do Halfords results spell an ongoing improving trend?

 
Kasmira Jefford
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SANJAY VIDYARTHI | ESPIRITO SANTO
Halfords has delivered a very strong second quarter sales performance and what is particularly encouraging is that we don’t see this as just a one-off Olympics related boost to bike sales. Other categories, including the important, high margin car maintenance category have also performed better than expected.

BETHANY HOCKING | INVESTEC
The half year pre-close reports a consensus-beating second quarter performance. First half profit-before-tax is expected to be £40m-£42m, ahead of consensus for £35.8m (and our £36.4m forecast). For the full year, management are sensibly retaining their prudent second half planning assumptions.

JOHN STEVENSON | PEEL HUNT
A strong bounce in cycling and car enhancement drives profit upgrades, while the appointment of CEO Matt Davies will be welcomed by shareholders. The question is whether the cycling boost is a short-term fillip or an ongoing trend and the extent to which better execution can offset structural challenges.