Halfords drives profit growth as it accelerates transformation
Halfords has reported a strong full-year performance after increased demand for categories such as cycling, partly fuelled by the pandemic.
Halfordsâ revenues and profits advanced as it ârapidly acceleratedâ its transformation. However, the retailer warned of uncertainty ahead, including supply challenges.
Halfordsâ sales rose 13.9% like-for-like to ÂŁ1.29bn last year, when underlying pre-tax profit climbed 72% to ÂŁ96.3m.
Like-for-likes at Halfordsâ retail division rose 14.6%, powered by cycling, which was up 54.1% as people adopted the mode of transport during the pandemic.
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