At its annual general meeting, Halfords also revealed positive trading figures. Total sales in the 13 weeks to July 1 increased by 1.5 per cent, but suffered from an early Easter.
Halfords chairman Rob Templeman said: 'Easter is an important period for the company and allowing for the lack of an Easter in the first two weeks of the current year, like-for-like sales in the subsequent 11 weeks to July 1 increased by 2.7 per cent.'
Last month, the retailer revealed an increase in turnover of 8.6 per cent to£628.4 million for the 52 weeks to April 1. Like-for-likes were up 8.9 per cent and profit before tax rose 130.6 per cent to£76.9 million.