Halfords Group PLC
06 October 2005
Halfords Group plc
Trading Update
6 October 2005
Halfords Group plc ('Halfords') is today announcing a trading update for the 26
weeks to 30 September 2005 in advance of publishing interim results on 24
November 2005.
During the period, Halfords has continued to deliver positive like-for-like
sales growth. Overall, sales increased by 4.7% over the equivalent period in
2004 and like-for-like sales(1) increased by 2.6%(2).
Unaudited 26 weeks to 30 September 2005 26 weeks to 1 October 2004
% %
Turnover Analysis:
Total sales growth 4.7 12.7
Total like-for-like sales growth(1) 2.6 10.6
Like-for-like growth from supermezzanines(3) 1.6 0.3
Like-for-like sales(4) 1.0 10.3
Halfords has maintained its focus on maximising sales and increasing cash
profitability; as expected, some dilution of gross profit percent has occurred,
primarily due to sales mix.
Ian McLeod, Chief Executive, said:
'We are pleased that adherence to our growth strategy, underpinned by our unique
service proposition, has continued to deliver a positive trading performance
against strong comparatives last year. As has been widely reported, this is a
challenging retail environment, but our resilience in the first six months
continues to give us confidence for the second half'.
Notes
(1) Like-for-like sales growth is based upon 374 stores, which reached their
opening anniversary at or before 31 March 2005.
(2) Adjusting for the non-comparative Easter period last year underlying
like-for-like sales growth is 4.1%. This is an improvement from the 2.7%
like-for-like sales increase reported for the 11 weeks to 1 July at the
AGM on 13 July 2005.
(3) This represents supermezzanine stores that have not reached their
conversion anniversary.
(4) Converted supermezzanine stores that have reached their anniversary are
included in the like-for-like sales growth of 1.0%. The company remains on
track with its conversion programme and converted 20 stores during the
period. These stores, together with four new store openings and one store
relocation takes the total number of supermezzanines trading at
30 September 2005 to 82 stores compared to 57 at the financial year-end
and 39 at the end of the equivalent period last year.
Interim Results
Halfords will announce its interim results for the 26 weeks ended 30 September
2005 on Thursday 24 November 2005, including a presentation for analysts and
investors at 9.00 a.m. at City Presentation Centre, 4 Chiswell Street, London,
EC1Y 4UP.
For further information:
Media
Gainsborough Communications
Andy Cornelius 020 7190 1703
Julian Walker 020 7190 1705
Analysts
Halfords Group plc
Ian McLeod, Chief Executive
Nick Carter, Finance Director
Tony Newbould, Investor Relations
Notes to Editors:
Halfords Group plc (www.halfordscompany.co.uk)
Halfords is the UK's leading auto, leisure and cycling products retailer with
402 stores and nearly 10,000 employees.
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 the latest outdoor leisure and camping equipment. Halfords' own brands
include Ripspeed, for car enhancement, and Bikehut, for cycles and cycling
accessories, including the Apollo and Carerra brands. Stores offer a 'We'll Fit
It' service for car parts, child seats, satellite navigation and in-car
entertainment systems, together with newer concepts such as Kidszone and Active
Leisure.
Halfords is a FTSE 250 company. It was established in 1892 and was successfully
floated on the London Stock Exchange in June 2004.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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