Interim Management Statement

RNS Number : 9589I

Halfords Group PLC

10 July 2013

 



10 July 2013

Halfords Group plc

First-Quarter FY14 Interim Management Statement

Halfords Group plc ("the Group"), the UK's leading retailer of automotive and leisure products and services and leading independent operator in garage servicing and auto repair, today updates the market on its trading performance for the 13-week period to 28 June 2013:

	% change
TOTAL REVENUE
Halfords Group	+8.8
Retail	+9.0
Autocentres	+7.8
LIKE-for-LIKE (LfL) REVENUE
Halfords Group	+7.5
Retail	+8.8
Cycling	+15.5
Car Maintenance	+11.8
Car Enhancement	+3.0
Travel Solutions	-1.9
Autocentres	-0.9

Key Points

·      Cycling: all areas up on the year with Cycle Repair increasing 32.1%. A broader offer of Parts, Accessories & Clothing launched online

·      Car Maintenance: parts sales up 16.7% driven by the fitting proposition

·      Car Enhancement: Car Cleaning sales up strongly, with Technology sales down 3.5%

·      Travel Solutions: better Camping sales offset by a further decline in sales of Child Car Seats

·      Online Retail: sales up 15.5%, with Cycling making up over half of online revenues. Sat Nav online sales up 9.4%

·      Autocentres: total sales up 7.8% with seven centres opened in the period; fleet LfL sales remained in decline

Financial Position

The Group's financial position remains sound.

Matt Davies, Chief Executive, commented:

"Our Retail performance reflected better trading execution in areas of opportunity whilst we were up against a weak comparative period. Autocentres LfL sales reflected an adverse fleet performance but we continued to expand our network as planned.

We are in the early stages of our Getting Into Gear 2016 plan as outlined on 23 May 2013, designed to significantly improve our Retail customer experience through the friendly expertise of our colleagues and step changes in our store and online environment. Our focus is on delivering this plan over the medium term to drive sustainable and profitable revenue growth."

Notes 

1.     Like-for-like sales represent revenues from UK and Irish stores and UK centres trading for greater than 365 days

2.     Where appropriate, revenues denominated in foreign currencies have been translated at constant rates of exchange

Enquiries

Investors & Analysts (Halfords)	[phone]
Andrew Findlay, Finance Director
Craig Marks, Head of Investor Relations
Media (Maitland)	[phone]
Neil Bennett

Conference Call

There will be a conference call for investors and sell-side analysts at 9.30am today. The participant dial-in is 0203139 4830 or 0808 237 0030 (toll free). The PIN is 89696299#.

To access a recording of the call, the participant dial-in is 020 3426 2807 or 0808 237 0026 (toll free). The PIN is 640260#.  A transcript of the call will appear online in due course.

Reporting Calendar

The Halfords Group interim results will be published on 7 November 2013.

Notes to Editors

www.halfords.com

www.halfordscompany.com

www.halfordsautocentres.com

The Group is the UK's leading retailer of automotive, leisure and cycling products and through Halfords Autocentres also one of the UK's leading independent car servicing and repair operator. Halfords customers shop at 466 stores in the UK and Republic of Ireland and at halfords.com for pick-up at their local store or direct home delivery. Halfords Autocentres operates from around 290 sites nationally and offers motorists dealership-quality MOTs, repairs and car servicing at affordable prices.

The Halfords group strategy is based on three pillars:

·      Supporting Drivers Of Every Car

·      Inspiring Cyclists Of Every Age

·      Equipping Families For Their Leisure Time

The Getting into Gear 2016 plan for the Retail business is based on executing in five key areas in order to deliver a significantly-enhanced customer experience:

·      Service Revolution

·      The H Factor

·      Stores Fit To Shop

·      21^st Century Infrastructure

·      Click With The Digital Future

Halfords employs approximately 12,000 colleagues and sells around 10,000 product lines in stores, increasing to around 30,000 lines online. The product offering encompasses significant ranges in car parts, cycles, in-car technology, child seats, roof boxes, outdoor leisure and camping equipment. Halfords own brands include Apollo and Carrera cycles, augmented by exclusive UK distribution rights for the premium-ranged Boardman cycles and accessories. In outdoor leisure, we sell a premium range of camping equipment including brands such as Vango and Outwell. Halfords offers customers expert advice and a fitting service called "wefit" for car parts, child seats, satellite navigation and in-car entertainment systems, and a "werepair" service for cycles.

Cautionary Statement

This report is based on information from unaudited management accounts and 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 that 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.

 

END

 

 

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