Halfords reports strong sales up more than 10 per cent

Redditch-based Halfords Group plc, the UK's leading provider of motoring and cycling products and services, has revealed its third quarter trading update for the 13 weeks to 31 December 2021.

It has reported an exceptional performance in its Autocentres, growing at more than 33 per cent life-for-life on the previous year, driven by a strong third quarter MOT peak, and investment in digital platforms and building brand awareness.

In December the company paid £62 million to buy Axle Group Holdings Ltd, which owns the brands National Tyres and Autocare Viking Wholesale Tyres and Tyre Shopper.

The acquisition surpasses Halfords’ current target of 550 garages and 200 consumer vans and means that post-completion, Halfords will have approximately 604 garages, 234 consumer vans and 190 commercial vans. Including retail stores this will mean a combined total of over 1,400 fixed or mobile Motoring Services locations. It will also have eight warehouses.

Graham Stapleton, Chief Executive Officer, said: "These results demonstrate the strength of our motoring services offer, and the outstanding performance from our Autocentres business confirms the rationale behind our recent acquisitions.

With the recent addition of National to the Group, Motoring will represent more than 70 per cent of our revenue, and we expect to carry out 7.5 million motoring servicing jobs a year. We are working hard to continually increase our capacity, capabilities, and geographic reach in this area, making it easier and more convenient for customers to have a broader range of vehicles serviced than ever before at over 1,400 fixed or mobile Motoring Services locations.

"The COVID-19 pandemic has continued to present a number of headwinds and put significant pressure on our colleagues, who have navigated their way through a variety of challenges and issues. It is their resilience, dedication, and expertise that have produced another good set of results, and I would like to take this opportunity to thank each and every one of them."