6th Oct 2005 07:00
Halfords Group PLC06 October 2005 Halfords Group plc Trading Update 6 October 2005 Halfords Group plc ("Halfords") is today announcing a trading update for the 26weeks to 30 September 2005 in advance of publishing interim results on 24November 2005. During the period, Halfords has continued to deliver positive like-for-likesales growth. Overall, sales increased by 4.7% over the equivalent period in2004 and like-for-like sales(1) increased by 2.6%(2). Unaudited 26 weeks to 30 September 2005 26 weeks to 1 October 2004 % %Turnover Analysis:Total sales growth 4.7 12.7Total like-for-like sales growth(1) 2.6 10.6 Like-for-like growth from supermezzanines(3) 1.6 0.3 Like-for-like sales(4) 1.0 10.3 Halfords has maintained its focus on maximising sales and increasing cashprofitability; as expected, some dilution of gross profit percent has occurred,primarily due to sales mix. Ian McLeod, Chief Executive, said:"We are pleased that adherence to our growth strategy, underpinned by our uniqueservice proposition, has continued to deliver a positive trading performanceagainst strong comparatives last year. As has been widely reported, this is achallenging retail environment, but our resilience in the first six monthscontinues to give us confidence for the second half". Notes (1) Like-for-like sales growth is based upon 374 stores, which reached their opening anniversary at or before 31 March 2005. (2) Adjusting for the non-comparative Easter period last year underlying like-for-like sales growth is 4.1%. This is an improvement from the 2.7% like-for-like sales increase reported for the 11 weeks to 1 July at the AGM on 13 July 2005. (3) This represents supermezzanine stores that have not reached their conversion anniversary. (4) Converted supermezzanine stores that have reached their anniversary are included in the like-for-like sales growth of 1.0%. The company remains on track with its conversion programme and converted 20 stores during the period. These stores, together with four new store openings and one store relocation takes the total number of supermezzanines trading at 30 September 2005 to 82 stores compared to 57 at the financial year-end and 39 at the end of the equivalent period last year. Interim Results Halfords will announce its interim results for the 26 weeks ended 30 September2005 on Thursday 24 November 2005, including a presentation for analysts andinvestors at 9.00 a.m. at City Presentation Centre, 4 Chiswell Street, London,EC1Y 4UP. For further information: Media Gainsborough CommunicationsAndy Cornelius 020 7190 1703Julian Walker 020 7190 1705 Analysts Halfords Group plc Ian McLeod, Chief ExecutiveNick Carter, Finance DirectorTony Newbould, Investor Relations Notes to Editors: Halfords Group plc (www.halfordscompany.co.uk) Halfords is the UK's leading auto, leisure and cycling products retailer with402 stores and nearly 10,000 employees. The Group sells 11,000 different product lines ranging from car parts and cyclesthrough to the latest in-car technology, alloy wheels, child seats, roof boxesand the latest outdoor leisure and camping equipment. Halfords' own brandsinclude Ripspeed, for car enhancement, and Bikehut, for cycles and cyclingaccessories, including the Apollo and Carerra brands. Stores offer a "We'll FitIt" service for car parts, child seats, satellite navigation and in-carentertainment systems, together with newer concepts such as Kidszone and ActiveLeisure. Halfords is a FTSE 250 company. It was established in 1892 and was successfullyfloated on the London Stock Exchange in June 2004. ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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