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Halfords bucks trend to beat forecasts

Created:
23 July 2008
Written by:
Nathalie Olof-Ors

Halfords said that profits for the first quarter were ahead of expectations after a strong performance from its higher-margin car maintenance business.

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Total sales were up 1.7 per cent on tough comparatives, or 3 per cent adjusting for the early Easter. Like-for-like sales adjusted for Easter grew by 0.2 per cent.


IC VIEW:

GoodValue

Although Halfords' rate of growth is slowing, these figures vindicate its strategy and underline its resilience compared to the rest of the retail sector. Good value at 285p

Last IC view: Good value, 273p, 5 Jun 2008


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