Shares Recover as Retailer Assures Profit Within Range
- Halfords’ annual report delayed due to audit procedures
- Shares dropped to 185p but recovered to almost 200p
- Annual report expected on 21 June
- Underlying profit within £50m-£60m range
Halfords, the UK’s leading motoring and cycling products retailer, has experienced a delay in the publication of its annual report due to BDO, their auditor, needing more time for standard audit procedures. This led to a dip in share prices on June 14th to 185p but recovered to almost 200p. Halfords reassures shareholders that the report is ‘well advanced’ and expects an underlying profit before tax within the previously guided range of £50m-£60m. The preliminary results for FY23 will be published on June 21st.
Factuality Level: 8
Factuality Justification: The article provides relevant information about the delay in Halfords’ annual report publication and the reason behind it, as well as the current status of the report and its expected release date. It also mentions the impact on share prices but does not include any unnecessary details or personal opinions.
Noise Level: 4
Noise Justification: The article provides relevant information about the delay in Halfords’ annual report and the reason behind it, as well as the current status of the underlying profit expectations. It also mentions the impact on share prices. However, it lacks in-depth analysis or exploration of long-term trends or consequences for stakeholders.
Financial Relevance: Yes
Financial Markets Impacted: Halfords’ shares
Financial Rating Justification: The article discusses the delay in Halfords’ annual report and its impact on the company’s share price, which indicates financial relevance as it involves a public company’s financial performance and market reaction.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
www.retailsector.co.uk