Auto retailer bucks trend in face of poor weather and dwindling consumer confidence
Car products to cycles retailer Halfords has increased sales in the year to April 1 by 8.6 per cent compared with the same period a year ago. Like-for-like sales increased 8.9 per cent, and like-for-likes in stores where a mezzanine has been added have grown by 8.2 per cent.

The retailer said its full-year results were likely meet management expectations and was confident about its growth prospects.

The statement was very much in line with analysts' expectations. Seymour Pierce commented that Halfords' increased product offering and store expansion programme should ensure reasonable growth for the retailer over the next three years. The analyst forecasted that Halford's full-year pre-tax profits would reach£75 million.

Seymour Pierce analyst Richard Ratner said: '[Halfords had] a very good second-half performance, which most retailers would give their eye teeth to mirror.'

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