Business
Analysts Visit
Analysts Visit.
About this update from Halfords Group Plc
[{"type":"text","content":"\n \nRNS Number : 9641G Halfords Group PLC 20 May 2011 \n \n\nHalfords Autocentres Investor Visit and Autocentres Trading Update\n \nHalfords Group plc, the UK's leading retailer of automotive/leisure products and operator in auto servicing, will today host a meeting for analysts and investors in Birmingham focussed on the Group's Autocentres business. The meeting will be followed by a tour of three Halfords Autocentres in the Solihull area.\n \nThe rebranding and refurbishment of the entire centre network as well as the construction of a new Halfords Autocentres website was completed at the end of February. Halfords Autocentres were then launched with a national advertising campaign. Subsequently results for the Autocentres business have been encouraging with an uplift in Like for Like (LfL) sales from -2.3% in January/February to +0.9% for the following 10 weeks to May 9th. Weekly online bookings for our Autocentres business have significantly increased, rising 93% YOY in the post launch period, against a rise of 21% for January/February.\n \nEBIT guidance for the Autocentres business for FY113 remains unchanged at around £7m1 (before any charges for amortisation). In FY12 our expected capital investment requirement of c.£5m includes the targeted opening of 30 new centres and is self funded by the Autocentres business. Openings are anticipated to generate around £1m of start up losses in FY122.\n \nOther than the information above, no material new information will be disclosed in the presentations and there will be no further statement on trading. The presentation materials will be available from Mid-day today on the investor relations section of the Halfords website http://www.halfordscompany.com/hal/ir/\n \n \nNotes\n1 Before amortisation charge of £2.2m in respect of the acquisition of Nationwide Autocentres.\n2Start up losses include those incurred by centres opened in FY11 and FY12. \n3FY11 is the 52 weeks ending 1 April 2011.\n \nEnquiries\n \nAnalysts:\nHalfords Group plc \nAndrew...