Halfords full-year pre-tax profit rises marginally

The retailer said strength in its motoring business offset a weaker cycling market

1st June, 2016
Halfords reported a 2.5% increase in car accessory sales Pic: Getty

The bike and car part retailer said its pre-tax profit before non-recurring items climbed to £81.5 million (€106.8 million) for the year to April 1 from £81.1 million in the year to March 27. Revenue rose 1.7 per cent to £1.02 billion.

Cycling like-for-like sales fell 0.9 per cent as bad weather and rival price-cutting hit demand, particularly in July and August last year, although sales started rising again in the second half.

Overall retail sales rose 1.2 per...

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