Halfords Group plc (HLFDF) Q2 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.336 Good morning everyone and welcome to the Halfords Group interim results for the 26 weeks 00:00:04.336 -- 00:00:09.503 ending the 29th of September 2023. I'm Graham Stapleton and joining me today 00:00:09.503 -- 00:00:12.186 is Jo Hartley, our CFO. 00:00:12.186 -- 00:00:16.572 In terms of the agenda for this morning, Jo will begin today's presentation by taking 00:00:16.572 -- 00:00:20.937 you through our financial performance. I'll then provide you with an update on the progress 00:00:20.937 -- 00:00:26.184 against our strategy and this year's plan before moving on to the outlook for the remainder 00:00:26.184 -- 00:00:31.839 of the financial year. You'll then have the opportunity to ask questions at the end. 00:00:31.839 -- 00:00:35.984 Before I hand you over to Joe, I thought it would be useful to start with a quick overview 00:00:35.984 -- 00:00:38.748 of the first half of the year. 00:00:38.748 -- 00:00:43.215 We've made a very strong start to the year with outstanding sales and profit growth. 00:00:43.215 -- 00:00:48.382 That's despite some poor summer weather and the fact that two of our core markets, cycling 00:00:48.382 -- 00:00:50.774 and tyres, have underperformed. 00:00:50.774 -- 00:00:55.922 In a year of continued macroeconomic headwinds and significant inflation, negatively 00:00:55.922 -- 00:01:00.609 impacting gross margin, we have maintained our focus on what we can control and here 00:01:00.609 -- 00:01:02.933 we have made good progress. 00:01:02.933 -- 00:01:08.221 Firstly, we've grown share across all four categories and exceeded our own market 00:01:08.221 -- 00:01:13.450 share targets in three of them. Secondly, we've delivered over 16 million 00:01:13.450 -- 00:01:16.194 of cost and efficiency savings in the f...