Bikes and car accessories retailer Halfords reported a solid increase in total revenue after a strong performance at its autocentres and said there has been no material change in its financial position.
Total revenue increased 1.6% for the 15 weeks to January 11th 2013 while revenue rose 0.8% for the 41 weeks to January 11th.
Revenue at autocentres for the third quarter rose 12.4% and for the 41 week period increased 15.4%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Like-for-like retail revenue for the 15 weeks rose 1% after a robust performance from car maintenance, which rose 6.1%.
Travel solutions fell 8.2% after weak sales of child car seats. Car enhancement fell 1% while cycling reduced 1.6% after weak demand for older-kids and adult-mainstream bikes.
Mild and wet weather conditions affected the demand for winter products, it said.
"We do not anticipate a material improvement in short-term trading conditions. Given the Retail revenue performance in the period our plans would indicate group profit before tax for the year ended March 29th 2013 in the range of £68-72m, a modest upgrade to our prior assumptions," it said in a statement.
"We will continue to exit old inventory as we invest for the next financial year."
CJ
-
How Avios points work: how to collect and spend themAvios points offer worthwhile rewards for the savvy traveller. We explain how to collect, keep track of, and make the most of your Avios points
-
Unilever braces for inflation amid tariff uncertainty – what does it mean for investors?Consumer-goods giant Unilever has made steady progress simplifying its operations. Will tariffs now cause turbulence?
