Halfords has reported a strong performance for the financial year 2021, thanks to profitability improvements across the business and demand in cycling.
The group recorded £96.3m in underlying profit before tax, £40.4m above the previous year.
Like-for-like retail sales also grew by 14.6 per cent, with cycling up 54.1 per cent.
E-mobility sales soared over the period, increasing by 94 per cent.
And, by the end of FY22, more than 2,000 of its store and garage colleagues will be trained to service electric vehicles, bikes and scooters.
Graham Stapleton, Chief Executive Officer, commented: “We are delighted to have delivered a year of very strong financial and operational progress, especially in light of the extraordinary challenges presented by the pandemic. As ever, I would like to thank our outstanding colleagues across the business for their hard work, professionalism, and dedication.
“Demand for our services remains strong in the new financial year, and our touring categories are currently performing particularly well given the trend towards staycations this summer. In the longer term, we remain confident in the future prospects for the UK’s motoring and cycling markets and our ability to compete strongly in both.”
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