Interim Management Statement
Halfords Group PLC
25 July 2007
25 July 2007
Halfords Group plc ('Halfords')
Interim Management Statement
At its Annual General Meeting, to be held at 12:30 pm today, Halfords, the UK's
leading auto, leisure and cycling products retailer, will be announcing the
following Interim Management Statement relating to the period from 31 March 2007
to 13 July 2007.
Current Trading Update
Total sales growth in the 15 weeks to 13 July 2007 was 10.3%, 7.2% on a
like-for-like basis. Overall sales have benefited from the introduction of both
new product ranges, particularly in cycling, touring and camping, and from
trading initiatives resulting in continued positive growth in each of our key
trading areas.
Gross margins remain in line with the guidance given at the preliminary results
announcement and management remains confident that full year margin will be
broadly in line with that reported last year.
Business Highlights
Halfords' first Central European store was opened in Cestlice in the Czech
Republic on 29 June 2007.
An exclusive range of Boardman premium cycles and cycle accessories are now
being sold in the two standalone Bikehut stores and in the larger Halfords'
superstores.
The share buy-back programme remains on track and in the period 31 March 2007 to
23 July 2007 Halfords purchased 1.045m of its own shares for an aggregate
consideration of £4.098m.
Commenting on this Statement, Ian McLeod, Halfords' Chief Executive said:
'Halfords' sales performance since the trading update at the preliminary results
has remained in line with our expectations. Our continued positive sales growth,
achieved across each of our categories, continues to demonstrate the company's
defensive and resilient qualities and maintains our confidence in our future
growth prospects'
Cautionary Statement
This statement contains certain forward-looking statements with respect to the
financial condition, results of operations, and businesses of Halfords Group
plc. These statements and forecasts involve risk, uncertainty and assumptions
because they relate to events and depend upon circumstances that will occur in
the future. There are a number of factors which could cause actual results or
developments to differ materially from those expressed or implied by these
forward-looking statements. These forward-looking statements are made only as at
the date of this announcement. Nothing in this announcement should be construed
as a profit forecast. Except as required by law, Halfords Group plc has no
obligation to update the forward-looking statements or to correct any
inaccuracies therein.
Enquiries:
Analysts
Halfords Group plc
Tony Newbould, Investor Relations Officer 07753 809522
Media
College Hill
Andy Cornelius 0207 457 2822
Duncan Murray 0207 457 2823
Halfords Group plc will announce details of trading for the 26 weeks ended 28
September 2007 on 4 October 2007 and will present its Interim Results
Announcement on Thursday 22 November 2007.
Notes to Editors:
www.halfords.co.uk
www.halfordscompany.co.uk
Halfords Group plc
Halfords is the UK's leading auto, leisure and cycling products retailer,
employing in excess of 10,000 staff and operating from 430 stores including; 15
smaller format, neighbourhood, stores and two standalone Bikehuts (located in
Brighton and Putney).
Established in 1892 as F.W. Rushbrooke and subsequently renamed Halfords in
1907, the Company was floated on the London Stock Exchange in June 2004. The
Group sells 11,000 different product lines, ranging from car parts and cycles
through to the latest in-car technology, alloy wheels, child seats, roof boxes
and outdoor leisure and camping equipment. Halfords' own brands include Ripspeed
, for car enhancement, Bikehut, for cycles and cycling accessories, including
the Apollo and Carrera brands and Urban Escape for its premium range of camping
equipment. Stores offer a 'we fit' service for car parts, child seats, satellite
navigation and in-car entertainment systems, and a 'we repair' service for
cycles.
Halfords announced on 8 June 2006 its intention to buy back £50m of its own
shares over a two-year period. Since announcing its share buy-back programme
Halfords has purchased 10.049m of its own shares for an aggregate consideration
of £33.980m at an average share price of 338.1 pence.
This information is provided by RNS
The company news service from the London Stock Exchange
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