Halfords annual profit, revenue rise

5th Jun 2015 07:46

Car parts and bicycle retailer Halfords posted an 11.4% rise in full-year profit on Monday, as the company's drive to improve customer service and expand its cycling ranges helped to push group revenue over £1bn.Pre-tax profit increased to £81.1m, ahead of analysts' expectations, while total group revenue rose 6.9% to £1.03bn in the 53 weeks to April 2015.Revenue in both the Retail and Autocentres divisions grew, with sales up 6.8% and 7.6%, respectively.The company said it will pay a full-year dividend per share of 16.5p, up 15.4% from the previous year.Chairman Dennis Millard said: "This was another year of strong revenue growth, this time against tough comparatives, and leading to a pleasing improvement in profitability."""There still remains much to do in both Retail and Autocentres and full-year 2016 will be a particularly busy year of activity and investment as we continue to focus on driving the top-line and rolling out our Getting Into Gear strategy," he added.Keith Bowman, equity strategist at Hargreaves Lansdown Stockbrokers, said: "Initiatives implemented by the recently departed chief executive continue to generate progress.""Both profits and the declared increase in the dividend payment are ahead of forecast. Investments in staff training, revamped stores and enhanced product availability all look to be paying off, whilst a change of leadership made at its Autocentres business is showing early promise," he added.