Autocentres Group Revenue Up, Cycling Segment Declines

  • Halfords’ pre-tax profits fell by 18.3% in FY24
  • Autocentres group revenue up 17.6% and retail motoring up 4.9%
  • Cycling segment revenue declined 2.8%
  • Revenue growth of 7.9% to £1.6bn, underlying EBIT at £13.8m
  • Trading in FY25 affected by low consumer confidence and poor weather
  • CEO Graham Stapleton highlights the company’s resilience and commitment to customer support during cost-of-living crisis

Halfords has reported a decline of 18.3% in pre-tax profits to £36.1m for the year ended 29 March due to falling cycling and consumer tyre markets. Despite this, Autocentres group revenue increased by 17.6%, retail motoring grew by 4.9%. The company’s total operations EBIT was £13.8m, a £10.7m increase from FY23. Cycling segment LFL revenue declined by 2.8% compared to FY23. Trading in FY25 has been impacted by low consumer confidence and poor spring weather, affecting sales of cycling and staycation products. CEO Graham Stapleton emphasized the company’s resilience and commitment to customer support during the cost-of-living crisis.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Halfords’ financial performance, market trends, and the CEO’s perspective on the company’s strategy. It includes relevant data and insights without any significant digressions or misleading statements.
Noise Level: 3
Noise Justification: The article provides relevant information about Halfords’ financial performance and market trends, with some analysis of the factors affecting their business. It also includes quotes from the CEO that add context and perspective. However, it does not delve too deeply into the underlying causes or potential long-term consequences of these trends, nor does it offer specific solutions or insights for readers to apply.
Financial Relevance: Yes
Financial Markets Impacted: Halfords’ stock price and the automotive aftermarket industry
Financial Rating Justification: The article discusses Halfords’ financial performance, including a decline in pre-tax profits, revenue growth, and expectations for future market volumes. It also mentions the impact of low consumer confidence on sales and the company’s strategy to address the cost-of-living crisis.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article. The company faced challenges due to market conditions and external factors, but it’s not considered an extreme event.

Reported publicly: www.retailsector.co.uk www.retailgazette.co.uk