Halfords Regulatory News (HFD)

3 Apr 2007 07:01

Halfords Group PLC03 April 2007 Halfords Group plc ("Halfords") Trading Update 3 April 2007 Halfords, the UK's leading auto, leisure and cycling products retailer, todayissues the following trading update for the 52 weeks to 30 March 2007, inadvance of publishing preliminary results on Thursday 7 June 2007. Sales for the 52 weeks to 30 March 2007 increased by 9.1% over the equivalentperiod last year and like-for-like sales increased by 6.0%(1).Like-for-like sales growth has continued at a consistent level throughout theyear with growth delivered in all categories. Earnings growth has been supportedby a further reduction in margin dilution as the product mix continues to bemanaged effectively. Earnings per share have been further enhanced by thecompany's share buy-back programme(2), that to date has totalled 3.9% of theshares originally in issue. The company is expecting to declare a full yearprofit before tax in line with market expectations. Ian McLeod, Chief Executive, said: "We are pleased with this performance which provides further evidence ofHalfords' unique position in the retail market, the strength of its key productcategories and its service differentiation. Our store development programmecontinues to progress, with the opening of 25 new stores(3) during the year andthe development of new formats including standalone Bikehut stores in Brightonand Putney." Notes 1. Adjusting for the absence of an Easter period in the previous financial year, underlying like-for-like sales growth is 5.3%. 2. Since announcing its share buy-back programme on the 8 June 2006, Halfords has purchased 9,003,956 (3.9%) of its own shares for cancellation at a consideration, before costs, of £29,821,478, an average of 331.2 pence per share. 3. 18 stores net of closures Preliminary Results Halfords will on Thursday, 5 April 2007 host a store visit day for investors andanalysts to a new Bikehut and a Halfords supermezzanine store. No newinformation on current trading will be provided during the visit. Halfords will announce its preliminary results for the 52 weeks ended 30 March2007 on Thursday, 7 June 2007. A presentation for analysts and investors will beheld at 9.30 a.m. at The Auditorium, Merrill Lynch Financial Centre, 2 KingEdward Street, London EC1A 1HQ. For further information: Media College HillAndy Cornelius 0207 457 2822Duncan Murray 0207 457 2823 Analysts Halfords Group plc Tony Newbould, Investor Relations 01527 51311307753 809522 Notes to Editors: Halfords Group plc www.halfords.co.ukwww.halfordscompany.co.uk Halfords is the UK's leading auto, leisure and cycling products retailer, with426 stores and 10,000 employees. Established in 1892 as F.W. Rushbrooke andsubsequently renamed Halfords in 1907, the company was floated on the LondonStock Exchange in June 2004. The Group sells 11,000 different product lines,ranging from car parts and cycles through to the latest in-car technology, alloywheels, child seats, roof boxes and outdoor leisure and camping equipment.Halfords' own brands include Ripspeed, for car enhancement, and Bikehut, forcycles and cycling accessories, including the Apollo and Carrera brands.Halfords is developing new store formats and now operates from 15 smallerformat, neighbourhood stores and two standalone Bikehuts located in Brighton andPutney. Stores offer a "We'll fit it" service for car parts, child seats,satellite navigation and in-car entertainment systems, and a "We'll repair it"service for cycles. ENDS This information is provided by RNS The company news service from the London Stock Exchange