Halfords suffers 23% profit slump

Car parts and bicycle retailer Halfords said half-year profits slumped by 23% despite a “summer of sport” boost to sales.

The chain reported interim underlying profits of £41.9m (€52m), down from £54.7m (€68m) a year earlier, after retail sales fell 1.9% to £393m (€488.5m) in its half year to September 28.