Trading Statement

RNS Number : 9948U

Halfords Group PLC

13 April 2016

 

13 April 2016   

Halfords Group plc

Q4 Trading Statement

Halfords Group plc ("the Group"), the UK's leading retailer of motoring, cycling and leisure products and services and a leading independent operator in garage servicing and auto repair, today updates the market on its trading performance for the 11-week period to 1 April 2016:

	Q4 (11 weeks) % change	Full year (52 weeks) % change
TOTAL REVENUE
Halfords Group	+3.2	+1.7
Retail	+3.3	+1.2
Autocentres	+2.8	+4.1
LIKE-for-LIKE (LFL) REVENUE
Halfords Group	+2.6	+1.5
Retail	+3.1	+1.3
Cycling	+1.9	-0.9
Motoring	+3.5	+2.5
Car Maintenance	+2.0	+3.4
Car Enhancement	+3.9	+1.0
Travel Solutions	+9.5	+2.8
Autocentres	+1.7	+2.5

Key points for the 11-week period

·      Group LFL +2.6%, Retail LFL +3.1% (note 1), Autocentres LFL +1.7%

·      In Cycling, a second consecutive quarter of growth in sales of bikes offset by a small decline in parts, accessories and clothing

·      Motoring sales grew against tough comparatives; driven by in-car dash cams, car cleaning products and travel equipment

·      Autocentres achieved a 10^th consecutive quarter of LFL growth

Financial outlook

We continue to expect Group Profit Before Tax for the year ended 1 April 2016 to be in the range of £78-82m, as previously guided.

Jill McDonald, Chief Executive, commented:

"This was another good trading performance across the Group. Retail sales delivered solid growth supported by our service-led offerings and in Autocentres our sales continued to grow as we invested in new and refreshed centres. We are on track to meet profit expectations for the year and I look forward to providing an update on our Moving Up A Gear plans at our preliminary results on 1^st June."

Notes 

1.     Adjusting for the timing of Easter, underlying Retail LFL growth was +1.1%

2.     Like-for-like sales represent revenues, including those attributable to Click & Collect, from UK and Irish stores and UK centres trading for greater than 365 days, plus online revenues from direct deliveries. Where appropriate, revenues denominated in foreign currencies have been translated at constant rates of exchange

3.     The Motoring category of sales comprises the aggregate of Car Maintenance, Car Enhancement and Travel Solutions

Enquiries

Halfords	[phone]
Jonny Mason, Chief Financial Officer
Adam Phillips, Head of Investor Relations
Maitland (Media)	[phone]
Neil Bennett
Andy Donald

Reporting Calendar and Conference Call

We will report our annual results for the 52 weeks ending 1 April 2016 on 1 June 2016. We look forward to providing a full update on the Moving Up A Gear strategy at that time. As such there will be no conference call today.

Notes to Editors

www.halfords.com

www.halfordscompany.com

www.halfordsautocentres.com

Halfords Group plc

Halfords is the UK's leading retailer of motoring, cycling and leisure products and, through Halfords Autocentres, is also one of the UK's leading independent operators in garage servicing and auto repair. Customers shop at 462* Halfords stores and 10* Cycle Republic shops 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 314* sites nationally and offers motorists high-quality MOTs, repairs and car servicing at affordable prices.

Halfords employs approximately 11,000 colleagues and sells around 9,000 product lines in store, increasing to around 165,000 Retail products online. The Retail offering encompasses significant ranges in car parts, cycling products, in-car technology, child seats, roof boxes and camping equipment. Halfords' own cycling brands include Apollo, Carrera, Boardman and 13 cycles, augmented by a range of other brands of cycles and accessories, including Kona, Mongoose, Raleigh and Pinarello. In Motoring, the Halfords Essentials and Halfords Enhanced ranges are sold alongside brands such as General Electric, Bosch, Garmin and TomTom. In Travel Solutions, Halfords sells a premium range of equipment including camping brands such as CampinGaz 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. Cycle Republic is a new, stand-alone cycling-only retailer with brands, products and services targeted at the enthusiast and commuter cyclists.

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.

*as at 13 April 2016

 

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