Halfords sales up on summer cycling success

 
City A.M. Reporter
Car and bike retailer Halfords reported strong summer trading this morning as customers were buoyed by the success of the Tour de France and the Olympics.

A strong performance in the cycling division boosted revenue. Solid performances from the car maintenance division also flattered the results.

Like for like revenue at stores that have been open longer than a year rose 5.6 per cent, resulting in a fall of 0.1 per cent for the six months to 28 September.

The group said it expects to post pre-tax profit of between £40m and £42m, reflecting the “strong” second quarter sales performance.

The group trades from about 460 Halfords stores and 260 Autocentres, a garage servicing and auto repair business.

Separately, Halfords said it had appointed Matt Davies as chief executive with immediate effect, joining from Pets At Home.