Halfords reports strong summer trading

Car parts and bike chain Halfords today revealed a fresh rise in sales as the trend for Britons to holiday in the UK boosted demand for camping equipment.

Like-for-like sales in the three months to October 2 rose 2.2% after the firm’s car maintenance and cycling departments also enjoyed strong trading.

Shares jumped 8% as Halfords said it expected profits of between £59m (€64m) and £61m (€66m) in the six months to October 2, above City forecasts of £55m (€60m). It posted profits of £49.1m (€53m) for the same period last year.

Chief executive David Wild said the successful summer season increased confidence in prospects for the company’s full-year performance.

He added: “We have further increased share in our strong markets, managed margins tightly and controlled costs effectively.”

Mr Wild pointed to the success of service initiatives, particularly in fitting, and the better than expected trading at halfords.com.