6th Sep 2016 06:25
LONDON (Alliance News) - Halfords Group PLC on Tuesday reported growth in revenue in the 20 weeks to August 19.
The car parts and bicycle retailer said group revenue in the 20 weeks rose by 4.8% year-on-year, as retail revenue grew by 4.8% and autocentres revenue by 4.6%.
On a like-for-like basis, group revenue increased by 1.2%, with retail up 1.1% and autocentres up 1.8%. Growth was achieved in all of the company's divisions, with the exception of the car enhancement sector, which saw like-for-likes fall by 3.8%.
Halfords said it achieved robust motoring sales, while car maintenance was boosted by bulbs, blades, batteries and new motorcycle ranges. Cycling, which had been struggling of late, was boosted by new ranges and deeper promotion, particularly in premium bikes, while autocentres was led by growth in servicing and tyres. Cycling revenue was up 1.9% on a like-for-like basis.
Car enhancement continued to be hit by declining sat nav sales, however.
Halfords maintained its guidance for the full year.
"We continue to make good progress on our strategic initiatives; we can now match 25% of our retail sales to specific customers compared to only 3% last year and in recent weeks we have successfully piloted contactless payments and also launched the new Cycle Republic website," Chief Executive Jill McDonald said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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