Business
Preliminary Results: Financial Year 2022
Preliminary Results: Financial Year 2022.
About this update from Halfords Group Plc
[{"type":"text","content":"\n \n\n\nHalfords Group PLC (HFD)\n\n\n\nHalfords Group PLC: Preliminary Results: Financial Year 202216-Jun-2022 / 07:00 GMT/BSTDissemination of a Regulatory Announcement, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n\n \n\n16 June 2022\n\nHalfords Group plc \n\nPreliminary Results: Financial Year 2022\n\n \n\nStrong performance vs pre-pandemic demonstrates significant transformation to the underlying business.\n\n \n\nOngoing focus on non-discretionary motoring services will help mitigate some macroeconomic headwinds.\n\n \n\nHalfords Group plc (“Halfords” or the “Group”), the UK’s leading provider of Motoring and Cycling products and services, today announces its Preliminary results for the 52 weeks to 1 April 2022 (“the period”). \n\n \n\nTo provide a better understanding of underlying performance, comparisons of sales, profit and debt will primarily be made relative to FY20, that is, on a two-year basis, unless otherwise stated. The disruption to last year (FY21) from COVID-19 means that one-year comparators are more difficult to interpret but are provided within the tables below. All numbers shown are on a post-IFRS 16 basis and before non-underlying items, unless otherwise stated.\n\n \n\nFY22 Overview\n\n \n\nStrong revenue growth of +19.9% vs. FY20 (+6.0% vs FY21), growing market share in Retail Motoring and Autocentres, with revenues +6.5% and +91.9% respectively. Cycling growth of +2.7% despite supply chain disruption during the period.\n Strong performances in areas of strategic focus are a clear demonstration of our growing resilience: Group Services1 grew +79%, online +77% and B2B2 +62% vs FY20.\n The Group made three further acquisitions during FY22, the largest of which being Axle Group (referred to as “National\"), making Halfords the largest Motoring Service provider in the UK with over 70% of revenues now coming from Motoring, and almost 40% from Services.\n Underlying Profit Before Tax of £89.8m, +£32.9m (+57.8%) vs. FY20 and -£9.7m (-9.7%) vs FY21. (note: includes business rates relief of £11m (FY22), £39.1m (FY21) and nil (FY20)).\n Period ended with cash of £46.1m but overall Net debt of £344.9m after IFRS16 lease debt.\n Proposed final dividend per share of 6p. \n Record Net Promoter Score (“NPS”) results of...