Halfords Group PLC (HFD)
7 September 2022
Halfords Group plc
20-Week Trading Update: Financial Year 2023
Full year profit guidance unchanged following good performance across the business, and market share gains across Motoring and Cycling products and services.
Halfords Group plc (“Halfords” or the “Group”), the UK’s leading provider of Motoring and Cycling products and services, today announces its trading update for the 20-week period to 19 August 2022 (“the period”).
Graham Stapleton, Chief Executive Officer, commented:
“We are working extremely hard to help our customers with the cost-of-living crisis and have dropped prices across nearly 2,000 motoring essentials, ensuring that products remain accessible and affordable for all. Our Motoring Loyalty Club is also proving to be extremely popular and has already attracted over half a million members since its launch in March, with benefits including MOT discounts and a free 10-point car health-check, putting almost £14m of savings directly back into members’ pockets.
We are also determined to do everything that we can to support our fantastic employees whose tireless work and commitment to going the extra mile for our customers is so critical to our performance. Among other initiatives, we are announcing today that we are offering free MOTs to all of our 10,000+ colleagues.
Over 70% of our sales now come from motoring products and services, and the fact that this area of spend tends to be more needs-based rather than discretionary is leading to a very resilient Group performance, despite the wider macroeconomic uncertainty.”
Group revenue summary (fig.1)
Group LFLs vs FY20 comparisons (fig.2)
Group services (fig. 3)
Investors & Analysts (Halfords)
Jo Hartley, Chief Financial Officer
Richard Guest, Corporate Finance Director
Andy Lynch, Head of Investor Relations +44 (0) 7483 457 415
Media (Powerscourt) +44 (0) 20 7250 1446
Rob Greening email@example.com
A conference call for analysts and investors will be held today, starting at 09:00am UK time. Attendance is by invitation only. A copy of the transcript of the call will be available at www.halfordscompany.com in due course. For further details please contact Powerscourt on the details above.
Next trading statement
On 23 November 2022 we will report our interim results for the period ending 30 September 2022.
Notes to Editors
Halfords is the UK's leading provider of motoring and cycling services and products. Customers shop at 397 Halfords stores, 3 Performance Cycling stores (trading as Tredz and Giant), 606 garages (trading as Halfords Autocentres, McConechy’s, Universal and National Tyres) and have access to 253 mobile service vans (trading as Halfords Mobile Expert, Tyres on the Drive and National) and 192 Commercial vans. Customers can also shop at halfords.com and tredz.co.uk for pick up at their local store or direct home delivery, as well as booking garage services online at halfords.com.
This report contains certain forward-looking statements with respect to the financial condition, results of operations, and businesses of Halfords Group plc. These statements and forecasts involve risk, uncertainty and assumptions because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are made only as at the date of this announcement. Nothing in this announcement should be construed as a profit forecast. Except as required by law, Halfords Group plc has no obligation to update the forward-looking statements or to correct any inaccuracies therein.
3.1. Additional regulated information required to be disclosed under the laws of a Member State
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