StockMarketWire.com - Halfords Group expects full year pre-tax profit to be broadly in line with current market forecasts.

Group revenue was the 15 weeks to 12 Jan was up 3.2%, with Retail up 3.3% and Autocentres up 1.9% after record Black Friday and Christmas sales.

Retail cycling like-for-like sales were up 7.8% with growth across all bike categories, cycle repair and PACs.

Bike volumes were up marginally year-on-year despite price rises introduced across the market during the year.

Group online sales growth was +13.0%, with over 80% of Halfords.com orders collected in store, reinforcing the advice and service-led nature of transactions.

Looking ahead, the group said: 'We anticipate that the UK retail sales environment will remain subdued for the remainder of FY18.

'Sales for the quarter were slightly ahead of expectations, with growth led by the lower margin cycling business.

'Our FX mitigation plans remain on track. We anticipate FY18 Group profit before tax broadly in line with current market expectations.'

Chief financial officer Jonny Mason said: 'We are pleased with the overall performance of the Group in the 15 week period given the difficult UK retail environment.

'We achieved record sales for Black Friday and Christmas thanks to great planning and execution and compelling product and service offers.

'Particular highlights included the growth in fitting services for car parts, cycle repair and increased sales of bikes, electric bikes and dash cams.'







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