6th Apr 2006 07:01
Halfords Group PLC06 April 2006 6 April 2006 Halfords Group plc Trading Update Halfords, the UK's leading auto, leisure and cycling products retailer, todayreleases a trading update for the 52 weeks to 31 March 2006. Sales in the 52 weeks to 31 March 2006 have increased by 8.4% compared with theequivalent period last year, with like-for-like sales growing by 6.1%. Halfords' strong position in the fast growing in-car technology sector hascontinued to drive sales in Car Enhancement. Car Maintenance remains resilientand also continues to trade positively. In the Leisure category, customers havereacted well to the launch of the new Apollo and Carrera cycle ranges, which hasresulted in further growth in market share for the Bikehut brand. The growth of in-car technology in particular, means that the overall sales mixof the business has significantly changed this year and, as anticipated,dilution of gross margin percentage has occurred. Halfords expects to report pre-tax profits for the year to 31 March 2006 ataround £77million. Ian McLeod, Chief Executive, said: "Halfords' focus on driving sales and cash margin has enabled us to continue totrade well against the backdrop of a difficult retail environment. Our storeinvestment plans remain on track, while trading has benefited from a strong corebusiness supported by successful moves into new product areas." Preliminary Results Halfords will announce its preliminary results for the 52 weeks ended 31 March2006 on Thursday 8 June 2006, including a presentation for analysts andinvestors at 9.30 a.m. at The City Presentation Centre, 4 Chiswell Street,London, EC1Y 4UP. Company Websites www.halfords.com www.halfordscompany.com For further information: Media Gainsborough CommunicationsAndy Cornelius 020 7190 1703Julian Walker 020 7190 1705 Analysts Halfords Group plcIan McLeod, Chief ExecutiveNick Carter, Finance DirectorTony Newbould, Investor Relations 020 7995 9611 (on the day until 10:00am) Notes to Editors: Halfords Group plc (www.halfordscompany.com) Halfords is the UK's leading auto, leisure and cycling products retailer with408 stores and nearly 10,000 employees. The Group sells c.11,000 different product lines ranging from car parts andcycles through to the latest in-car technology, alloy wheels, child seats, roofboxes and 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. 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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