1st Jun 2016 06:29
LONDON (Alliance News) - Halfords Group PLC on Wednesday reported a fall in profit in its recently-ended financial year due to exceptional costs, and as the prior year benefited from an extra week, but revenue excluding that extra week increased due to growth in the autocentres division.
The car parts and bicycle retailer said its pretax profit in the year ended April 1 fell to GBP79.8 million from GBP83.8 million the year before, as revenue slipped slightly to GBP1.02 billion from GBP1.03 billion.
The prior year contained an extra week, and excluding this, revenue was GBP1.00 billion, meaning revenue did actually rise by 1.7% on a proforma basis. However profit on a proforma basis the prior year was still slightly higher at GBP80.8 million.
By division, revenue in the autocentres business grew on both an audited and proforma basis, while retail revenue grew on a proforma basis but fell on an audited basis.
Profit was hit by increased exceptional charges and, excluding these, would have risen on a proforma basis.
Halfords will pay a total dividend of 17 pence for the year, up from 16.5p the year before.
"As we look ahead there is plenty to do as we implement Moving Up A Gear, and we've already built good momentum. The year ahead will be a busy one, both for product developments and strategic progress," Chief Executive Jill McDonald said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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