Halfords Regulatory News (HFD)

25 Jul 2007 07:00

Halfords Group PLC25 July 2007 25 July 2007 Halfords Group plc ("Halfords") Interim Management Statement At its Annual General Meeting, to be held at 12:30 pm today, Halfords, the UK'sleading auto, leisure and cycling products retailer, will be announcing thefollowing Interim Management Statement relating to the period from 31 March 2007to 13 July 2007. Current Trading Update Total sales growth in the 15 weeks to 13 July 2007 was 10.3%, 7.2% on alike-for-like basis. Overall sales have benefited from the introduction of bothnew product ranges, particularly in cycling, touring and camping, and fromtrading initiatives resulting in continued positive growth in each of our keytrading areas. Gross margins remain in line with the guidance given at the preliminary resultsannouncement and management remains confident that full year margin will bebroadly in line with that reported last year. Business Highlights Halfords' first Central European store was opened in Cestlice in the CzechRepublic on 29 June 2007. An exclusive range of Boardman premium cycles and cycle accessories are nowbeing sold in the two standalone Bikehut stores and in the larger Halfords'superstores. The share buy-back programme remains on track and in the period 31 March 2007 to23 July 2007 Halfords purchased 1.045m of its own shares for an aggregateconsideration of £4.098m. Commenting on this Statement, Ian McLeod, Halfords' Chief Executive said: "Halfords' sales performance since the trading update at the preliminary resultshas remained in line with our expectations. Our continued positive sales growth,achieved across each of our categories, continues to demonstrate the company'sdefensive and resilient qualities and maintains our confidence in our futuregrowth prospects" Cautionary Statement This statement contains certain forward-looking statements with respect to thefinancial condition, results of operations, and businesses of Halfords Groupplc. These statements and forecasts involve risk, uncertainty and assumptionsbecause they relate to events and depend upon circumstances that will occur inthe future. There are a number of factors which could cause actual results ordevelopments to differ materially from those expressed or implied by theseforward-looking statements. These forward-looking statements are made only as atthe date of this announcement. Nothing in this announcement should be construedas a profit forecast. Except as required by law, Halfords Group plc has noobligation to update the forward-looking statements or to correct anyinaccuracies therein. Enquiries:Analysts Halfords Group plcTony Newbould, Investor Relations Officer 07753 809522 Media College HillAndy Cornelius 0207 457 2822Duncan Murray 0207 457 2823 Halfords Group plc will announce details of trading for the 26 weeks ended 28September 2007 on 4 October 2007 and will present its Interim ResultsAnnouncement on Thursday 22 November 2007.Notes to Editors: www.halfords.co.ukwww.halfordscompany.co.uk Halfords Group plcHalfords is the UK's leading auto, leisure and cycling products retailer,employing in excess of 10,000 staff and operating from 430 stores including; 15smaller format, neighbourhood, stores and two standalone Bikehuts (located inBrighton and Putney). Established in 1892 as F.W. Rushbrooke and subsequently renamed Halfords in1907, the Company was floated on the London Stock Exchange in June 2004. TheGroup sells 11,000 different product lines, ranging from car parts and cyclesthrough to the latest in-car technology, alloy wheels, child seats, roof boxesand outdoor leisure and camping equipment. Halfords' own brands include Ripspeed, for car enhancement, Bikehut, for cycles and cycling accessories, includingthe Apollo and Carrera brands and Urban Escape for its premium range of campingequipment. Stores offer a "we fit" service for car parts, child seats, satellitenavigation and in-car entertainment systems, and a "we repair" service forcycles. Halfords announced on 8 June 2006 its intention to buy back £50m of its ownshares over a two-year period. Since announcing its share buy-back programmeHalfords has purchased 10.049m of its own shares for an aggregate considerationof £33.980m at an average share price of 338.1 pence. This information is provided by RNS The company news service from the London Stock Exchange