Halfords H1 Profit Rises On 8.7% Revenue Increase; Ups Annual View

Halfords Group PLC (HFD.L) on Wednesday reported underlying profit before tax of 57.9 million pounds in the first half of FY2022, up 3.8% from 55.8 million pounds in the same period a year ago.

Underlying basic earnings per Share in the first half increased to 24p from 23p last year.

Profit before tax in the first half rose 16.1% to 64.3 million pounds from 55.4 million pounds during the comparable period last year.

Underlying EBITDA for the six-month period was 115.7 million pounds compared with 115.5 million pounds in the prior-year period.

Revenue in the first half rose 8.7% to 694.8 million pounds from 638.9 million pounds a year ago.

Looking forward, the group has raised its full-year underlying profit before tax outlook to the range of 80 million pounds- 90 million pounds, post IFRS 16, from the prior outlook of more than 75 million pounds.

"There is good momentum in our existing business, the strategically important area of Motoring Services continues to grow strongly, and our recent acquisitions are all performing well. As a result, despite the challenging trading environment, I am very excited about our future growth prospects," said Graham Stapleton, Chief Executive Officer.

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