Halfords Group plc (HLFDF) Q2 2019 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.236 and welcome to the Halfords Group Interim Results, a presentation for FY19. 00:00:05.236 -- 00:00:10.101 It's good to see some familiar faces from our Capital Markets Day and the various investor 00:00:10.101 -- 00:00:13.404 meetings we've held over the 10 months since I joined. 00:00:13.404 -- 00:00:17.968 I remain very positive about Halfords' future and the significant opportunities to further 00:00:17.968 -- 00:00:20.751 differentiate our business for customers. 00:00:20.751 -- 00:00:24.513 Let's begin by having a look at the agenda. 00:00:24.554 -- 00:00:29.500 I will start by covering the highlights of the first half, I will then give a brief recap 00:00:29.500 -- 00:00:34.225 of our new strategy and share some of the early progress we've already made. 00:00:34.225 -- 00:00:38.329 Adam will then take you through the financial results for half one and the outlook for 00:00:38.329 -- 00:00:41.152 the full year before I summarise. 00:00:41.152 -- 00:00:46.278 I'm also delighted to introduce Lorraine Woodhouse who started last week as our new 00:00:46.278 -- 00:00:47.920 CFO. 00:00:47.920 -- 00:00:51.544 Lorraine will say a few words later on and there will be an opportunity for you to meet 00:00:51.544 -- 00:00:54.667 her over coffee at the end. 00:00:54.667 -- 00:00:59.026 Let's start by looking at the financial highlights from the first half. 00:00:59.026 -- 00:01:04.434 Group revenue was up 2.5% on a light for light basis, with retail plus 2.3% 00:01:04.434 -- 00:01:08.219 and auto centres plus 3.3%. This 00:01:08.219 -- 00:01:14.365 is a robust performance in light of what we all know is a challenging UK retail environment. 00:01:14.648 -- 00:01:19.535 In half one, we saw the first increase in gross margin for several years ...