Autocentre Business Up 34.6%, Trading Year on Track
- 14.1% revenue increase for Halfords
- Autocentre business up 34.6%
- Retail revenue up 3.7%
- Strong Services and B2B performance accounted for 48% and 29% of group revenue respectively
- Group LFL revenue performance increased by 7.8%
- Trading year in line with expectations
- Underlying profit before tax expected between £48m and £58m
- CEO Graham Stapleton: ‘ongoing focus on essential maintenance and servicing’
- Campaign launched to raise motorists’ awareness of cost savings for servicing and repairs
Halfords has reported a 14.1% increase in revenues for the 20 weeks ended 18 August 2023, driven by needs-based categories and strong Services and B2B performance. Autocentre revenue rose 34.6%, while retail revenue increased by 3.7%. The company’s group motoring business now accounts for over 75% of total sales. CEO Graham Stapleton said the sector is resilient and they are focused on offering unrivaled value during the cost-of-living crisis with a new campaign called ‘Dealer or No Dealer’.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Halfords’ financial performance, quotes from the CEO, and discusses the company’s strategy to support customers during the cost-of-living crisis.
Noise Level: 2
Noise Justification: The article provides relevant information about Halfords’ financial performance and its CEO’s comments on the cost-of-living crisis and a new campaign to raise awareness of alternative repair options for motorists. It stays on topic and supports claims with specific revenue figures and market share gains.
Financial Relevance: Yes
Financial Markets Impacted: Halfords’ stock price and related automotive industry stocks
Financial Rating Justification: The article discusses Halfords’ financial performance, revenue growth, and expectations for profitability, which can impact the company’s stock price and potentially affect related automotive industry stocks.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme events or crises mentioned in the article.
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