Halfords UK Cycling Sales Grow Despite 'Challenging UK Consumer Environment'
REDDITCH, UK - Bicycles and car parts retailer Halfords UK has reported a 24 percent fall in annual pre-tax profit and forecast a flat outcome for the next financial year. However, the company said that a mild winter had boosted cycling, with like-for-like cycling sales up 2.6 percent. This was despite pre-tax profits of GBP 51m (58m euro) for the 12 months to May 2019, down from GBP 67.1m (76m euro) in the previous financial year, even though revenues rose 1.1 percent on a like-for-like basis to just over GBP 1.1bn (1.3bn euro).
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