Revenue up at Halfords

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.

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%.

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

Recommended

I wish I knew what a share buyback was, but I’m too embarrassed to ask
Too embarrassed to ask

I wish I knew what a share buyback was, but I’m too embarrassed to ask

A share buyback means just what it says – a company buys back its own shares. But why? And how does that benefit shareholders?
3 Aug 2021
Improve your odds of investment success with these three stocks
Share tips

Improve your odds of investment success with these three stocks

Professional investor Tom Wildgoose of the Nomura Global High Conviction Fund highlights three of his favourite stocks.
2 Aug 2021
How to profit from pampered pets beyond the pandemic
Share tips

How to profit from pampered pets beyond the pandemic

Covid-19 has greatly boosted ownership. But the market had been expanding for years, and demographic, cultural and medical trends all point to long-te…
30 Jul 2021
Share tips of the week – 30 July
Share tips

Share tips of the week – 30 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Jul 2021

Most Popular

Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021