Halfords hails resilient performance despite profit slump

Halfords electric-bike-service

Halfords boss Graham Stapleton has hailed his business’ resilience in the face of the cost-of-living crisis, despite underlying profit falling in the first half.

In the 26 weeks to September 30 Halfords reported underlying profit before tax was down £28.9m to £29m, underlying EBITDA was down £23.7m to £92m and profit before tax was down £35m to £29.3m. 

Halfords Group sales for the period were £765.7m, up £70.9m, driven by a £109.1m increase in autocentres sales to £265.2m. Retail sales by comparison were down £38.2m to £500.5m. 

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