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Halfords Cycles: Plus 20% Profit

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LONDON, UK (Nov 24) – Bicycle retailer Halfords saw a 20.6% rise in interim pre-tax profit and said good like-for-like sales has continued into the second half. Pre-tax profit jumped to £40.4m (€ 59.09m) in the 6 months to 30 September from £33.5m (€ 49,01m) in the same period last year, on turnover that rose […]

LONDON, UK (Nov 24) – Bicycle retailer Halfords saw a 20.6% rise in interim pre-tax profit and said good like-for-like sales has continued into the second half.

Pre-tax profit jumped to £40.4m (€ 59.09m) in the 6 months to 30 September from £33.5m (€ 49,01m) in the same period last year, on turnover that rose by 6% to £337.7m (€ 493m) from £322.7m (€ 47.1m) previously.

The group said there was strong growth in Car Enhancement and Cycling divisions while tight cost control also helped figures.

“Our growth strategy, underpinned by our unique service proposition, has continued to deliver positive results despite a challenging retail environment,” said chief executive Ian McLeod

“In the six weeks since 30 September 2005 Halfords’ like-for-like sales performance has continued to strengthen, particularly within cycling and in-car technology, giving us confidence for the second half of our financial year.”

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