Business
Halfords Group PLC: 20-Week Trading Update: F...
Halfords Group PLC: 20-Week Trading Update: F....
About this update from Halfords Group Plc
[{"type":"text","content":"\n \n \n \n\n\t\n\t\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHalfords Group PLC (HFD)\n\n\n\n\n\n\nHalfords Group PLC: 20-Week Trading Update: Financial Year 2024 06-Sep-2023 / 07:00 GMT/BST\n\n \n\n6 September 2023\n\nHalfords Group plc \n\n \n\n20-Week Trading Update: Financial Year 2024\n\n \n\nStrong market share gains across the Group with +7.8% Group LFL revenue performance.\n\n \n\n \n\nHalfords Group plc (“Halfords” or the “Group”), the UK’s leading provider of Motoring and Cycling services and products, today announces its trading update for the 20 weeks to 18 August 2023 (the “Period”). \n\n \n\nHeadlines \n\nStrong trading across the Group with total revenue up +14.1% driven by needs-based categories, with Autocentres +34.6% and Retail +3.7%.\n Strong Services and B2B performance accounting for 48% of Group revenue (+6ppts YOY) and 29% (+5ppts YOY) respectively, with B2B winning a significant nationwide contract with Yodel.\n Market share gains across all categories and in line with expectations as set out at our Capital Markets Day (“CMD”) in April. \n Underlying Services markets remain robust, whilst discretionary categories have been softer in Q2 to-date vs Q1.\n Trading year to date in line with expectations. Full underlying profit before tax (“PBT”) expected to be between £48m and £58m(1).\n \n\nGraham Stapleton, Chief Executive Officer, commented:\n\n \n\n\"It’s been a good start to the year for Halfords, and our ongoing focus on essential maintenance and servicing is driving a strong performance in our Autocentre and Retail Motoring business. Group Motoring, which now accounts for over 75% of our total sales, is a resilient sector and we’re progressing with our long-term plans to become a one-stop-shop for motoring ownership. \n\n \n\n“We’re continuing to do everything that we can to support our customers through the cost-of-living crisis and are determined to offer them unrivalled value. For instance, our research shows that motorists who use manufacturers’ franchised dealerships can pay over 50% more for repairs compared with Halfords. With the average cost of car ownership pushing £300 a month, the last thing hard pressed motorists need, is to pay over the odds for repairs. That’s why, today, we’re launching a campaign called Dealer or No Dealer, designed to raise...