Halfords Group plc (LON:HFD), the UK’s leading retailer of motoring, cycling and leisure products and services, and a leading independent operator in vehicle servicing, maintenance and repairs, today updated the market on its trading performance for the 20-week period to 17 August 2018:
|
|
FY19 Year-to-date (20 weeks) % change |
|
TOTAL REVENUE |
|
|
Halfords Group |
+2.7 |
|
Retail |
+2.6 |
|
Autocentres |
+3.9 |
|
|
|
|
LIKE-for-LIKE (“LFL”) REVENUE |
|
|
Halfords Group |
+2.8 |
|
Retail |
+2.6 |
|
Motoring |
+3.8 |
|
Car Maintenance |
+4.5 |
|
Car Enhancement |
+2.2 |
|
Travel Solutions |
+4.7 |
|
Cycling |
+0.8 |
|
Autocentres |
+4.0 |
Key points
· Solid performance despite challenging retail environment. Group LFL +2.8%, Retail LFL +2.6% and Autocentres LFL +4.0%, in line with our expectations
· Retail Motoring sales +3.8% LFL, driven by growth in fitting services, car cleaning products, tools, and staycation-related products
· Retail Cycling sales +0.8% LFL, with a good peak summer period offsetting the impact of poor weather at the start of the year and an early Easter. Electric bikes were the standout performer and PACs sales continued to grow
· Autocentres performed well with sales +4.0% LFL and continued momentum on the operational improvements; on track to deliver profit growth for the year
· Group online sales of +11.3% with 85% of Halfords.com orders collected in store
Financial outlook
Our guidance for the current year is unchanged and we continue to anticipate FY19 Underlying Profit Before Tax to be broadly in line with FY18.
Graham Stapleton, Chief Executive, commented:
“I am pleased with the trading performance for the first 20 weeks of the year in what continues to be a challenging retail environment. In Retail, sales growth was supported by fitting services, new ranges of workshop and car cleaning products, and electric bikes. In Autocentres, we continued to build momentum on our transformation plan. I look forward to presenting our strategy update at our capital markets event on 27th September.”
