DJ Halfords Group PLC: Interim Results for the 26 weeks to 27 September 2024 Halfords Group PLC (HFD) Halfords Group PLC: Interim Results for the 26 weeks to 27 September 2024 26-Nov-2024 / 07:00
Halfords Group PLC Halfords Group PLC: Interim Results for the 26 weeks to 27 September 2024 26-Nov-2024 / 07:00 GMT/BST =---------------------------------------------------------------------------------------------------------------------- 26 November 2024 Halfords Group plc Interim Results for the 26 weeks to 27 September 2024 Strong first half delivers GBP21m underlying PBT; accelerating Fusion garage services rollout to c.40 locations.
-- Retail generated underlying EBIT of GBP21.2m with 200bps improvement in gross margin inpart reflecting pricing discipline in a better-than-expected Motoring Products market, while the underlying Cyclingmarket remains c.33% below FY19 volumes. "Critical to our success, and what really stands us apart from the competition, are more than 12,000 fantastic colleagues. We continually prioritise investment in their training - with skills and capability our number one focus. The cost implications from the recent UK Budget are particularly acute for a specialist retailer that provides expert advice and assistance to customers, face to face.
Central to this improvement has been our Better Buying programme, which is built on stronger partnerships with key suppliers which drive not only improved economics but also allow us to have more influence over ESG practices throughout our supply chain. Now in the second year of this programme, we are seeing the benefits accelerate, contributing GBP5.7m of incremental gross profit in H1 FY25.
The Cycling market is highly fragmented with a large number of independent retailers. As such, weak demand for bikes has resulted in significant industry consolidation in recent years. We continue to take small amounts of share in a declining market due to our trusted brand and market-leading value proposition in predominantly own-brand cycling ranges.
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