Skip navigation

Gloucestershire Business News

Halfords downgrades profit expectation

Halfords has seen a jump in profits, but has downgraded profit expectations for the full year.

The retailer has autocentres in Cheltenham, Gloucester and Cirencester, as well as stores in Stroud, Gloucester, Tewkesbury and Cheltenham.

It expects underlying profit before tax in the year March 2023 to be within the range of £65m to £75m, but is expecting the year to bring uncertainty, as reported by Retail Gazette.

Halfords reported a 49.8 per cent rise in pre-tax profits to £96.6m for the year to April 1. This represented a 325 per cent rise on the £22.7m profit posted for 2019-20, before the full impact of Covid-19.

Total sales were up by almost a fifth on pre-pandemic levels to £1.37 billion.

Retail motoring sales increased by 6.5 per cent, and cycling sales were up 2.7 per cent on two years ago, but significantly lower than last year, after the pandemic cycling boom.

Motoring now represents over 70 per cent of Halfords' sales, which it hopes will help it through the current financial problems many are facing, as its products are necessities for many people.

Related Articles

Gloucestershire mobile speed camera locations in July 2022 Image

Gloucestershire mobile speed camera locations in July 2022

The Mobile Camera Enforcement Unit is committed to reducing risks to road users caused by vehicles travelling at excessive speeds.

Superdry designer wins almost £100,000 in compensation Image

Superdry designer wins almost £100,000 in compensation

An experienced designer for Gloucestershire-based fashion retailer Superdry has won almost £100,000 in compensation after her bosses refused to promote her.

Bid to bring historic Old Station back to life Image

Bid to bring historic Old Station back to life

Cotswold District Council have committed to exploring options for bringing the Old Station in the centre of Cirencester back into use.

GFirst LEP launches new 'Made in Gloucestershire' initiative Image

GFirst LEP launches new 'Made in Gloucestershire' initiative

Championing the county’s best food and drink, Made in Gloucestershire is flying the flag for local producers.

Copyright 2022 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.