Trading Statement
Halfords Group PLC
03 April 2007
Halfords Group plc ('Halfords')
Trading Update
3 April 2007
Halfords, the UK's leading auto, leisure and cycling products retailer, today
issues the following trading update for the 52 weeks to 30 March 2007, in
advance of publishing preliminary results on Thursday 7 June 2007.
Sales for the 52 weeks to 30 March 2007 increased by 9.1% over the equivalent
period last year and like-for-like sales increased by 6.0%(1).
Like-for-like sales growth has continued at a consistent level throughout the
year with growth delivered in all categories. Earnings growth has been supported
by a further reduction in margin dilution as the product mix continues to be
managed effectively. Earnings per share have been further enhanced by the
company's share buy-back programme(2), that to date has totalled 3.9% of the
shares originally in issue. The company is expecting to declare a full year
profit before tax in line with market expectations.
Ian McLeod, Chief Executive, said:
'We are pleased with this performance which provides further evidence of
Halfords' unique position in the retail market, the strength of its key product
categories and its service differentiation. Our store development programme
continues to progress, with the opening of 25 new stores(3) during the year and
the development of new formats including standalone Bikehut stores in Brighton
and Putney.'
Notes
1. Adjusting for the absence of an Easter period in the previous financial year,
underlying like-for-like sales growth is 5.3%.
2. Since announcing its share buy-back programme on the 8 June 2006, Halfords
has purchased 9,003,956 (3.9%) of its own shares for cancellation at a
consideration, before costs, of £29,821,478, an average of 331.2 pence per
share.
3. 18 stores net of closures
Preliminary Results
Halfords will on Thursday, 5 April 2007 host a store visit day for investors and
analysts to a new Bikehut and a Halfords supermezzanine store. No new
information on current trading will be provided during the visit.
Halfords will announce its preliminary results for the 52 weeks ended 30 March
2007 on Thursday, 7 June 2007. A presentation for analysts and investors will be
held at 9.30 a.m. at The Auditorium, Merrill Lynch Financial Centre, 2 King
Edward Street, London EC1A 1HQ.
For further information:
Media
College Hill
Andy Cornelius 0207 457 2822
Duncan Murray 0207 457 2823
Analysts
Halfords Group plc
Tony Newbould, Investor Relations 01527 513113
07753 809522
Notes to Editors:
Halfords Group plc
www.halfords.co.uk
www.halfordscompany.co.uk
Halfords is the UK's leading auto, leisure and cycling products retailer, with
426 stores and 10,000 employees. 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, and Bikehut, for
cycles and cycling accessories, including the Apollo and Carrera brands.
Halfords is developing new store formats and now operates from 15 smaller
format, neighbourhood stores and two standalone Bikehuts located in Brighton and
Putney. Stores offer a 'We'll fit it' service for car parts, child seats,
satellite navigation and in-car entertainment systems, and a 'We'll repair it'
service for cycles.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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