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Halfords UK Sees Profit Rise Thanks to Strong Bike Sales

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Halfords Group plc, the UKs leading retailer of automotive and cycling products recently announced its Preliminary Results for the 52 weeks to 2 April 2010. The companys revenues and profit increased thanks to Continued strong sales and market share growth in car maintenance and cycling.

Halfords UK Sees Profit Rise Thanks to Strong Bike Sales

REDDITCH, UK – Halfords Group plc, the UK’s leading retailer of automotive and cycling products recently announced its Preliminary Results for the 52 weeks to 2 April 2010. The company’s revenues and profit increased thanks to “Continued strong sales and market share growth in car maintenance and cycling.”
 
Halfords revenue increased 4.6% to GBP 831.6 million (€ 1.002 bn) while like-for-like sales increased by 0.7%. Operating profit showed 17.5% growth to GBP 119.7million (€ 144.2mn).

CEO David Wild: “Halfords has had an excellent year. As a result of our disciplined growth strategy and a clear focus on the needs of our customers, our business continues to develop strongly. While we remain cautious about the current state of the wider UK economy and immediate outlook for consumer spending, we have a proven strategy, a resilient business, and significant opportunities. The Board is
therefore confident that the Group will deliver further earnings growth in the year ahead.”

 

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