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Halfords Sales Up

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Halfords Sales Up LONDON, UK (April 6) – Car parts and bicycle store chain Halfords says same-store sales grew 8.9 % compared to the equivalent 52 weeks last year. Halfords, which last month appointed former chief operating officer Ian McLeod as its new chief executive, said on Thursday it expected to report year results in […]

Halfords Sales Up

LONDON, UK (April 6) – Car parts and bicycle store chain Halfords says same-store sales grew 8.9 % compared to the equivalent 52 weeks last year.

Halfords, which last month appointed former chief operating officer Ian McLeod as its new chief executive, said on Thursday it expected to report year results in line with management expectations.

Analysts’ consensus forecast for year pre-tax profit is 78.7 million pounds/€114 million, according to Reuters Estimates.

The firm will announce preliminary results for the year to April 1 on June 9.

Halfords, which accounts for a quarter of British bicycle sales, was founded as a local hardware store in 1892. Private equity house CVC bought it from British retailer Boots for 427 million pounds/€621 million in 2002.

The company was floated on the stock market last June at a price of 260 pence/€ 0.37 per share, since when it has appreciated by almost 14%. Investors tend to regard the company as a fairly stable cash generator that is not as seasonally or economically cyclical as many of its peers.(Source: Reuters)

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