13th Apr 2016 06:29
LONDON (Alliance News) - Halfords Group PLC on Wednesday said its performance improved in the fourth quarter, leaving total revenue higher and demonstrating an improvement in the performance of its cycling business.
The FTSE 250-listed car parts and bicycles retailer said total revenue for the 11 weeks to April 1 rose 3.2%, leaving total revenue up 1.7% for the 52 weeks to the same date.
Like-for-like revenue grew 2.6% in the fourth quarter and by 1.5% for the full year, it said. Trading on a like-for-like basis improved for the retail portion of its business in the fourth quarter, with like-for-like sales up 3.1% and full-year like-for-like sales up 1.3%.
This included an improvement in cycling sales, which had come under pressure earlier in the financial year. Like-for-like cycling sales rose 1.9% in the fourth quarter, leaving like-for-like sales down 0.9% for the full year.
Motoring like-for-like sales rose 3.5% in the fourth quarter, leaving like-for-like sales for the year up 2.5%.
"This was another good trading performance across the group," said Chief Executive Jill McDonald. McDonald added the company is on track to meet expectations for the full year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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