The London-listed retailer posted an underlying pretax profit of 45.4 million pounds for the year ending March 27, comfortably exceeding the consensus range of 36.0 million to 41.2 million pounds. This growth stems from a decade-high gross margin of 52.8%, which helped offset a rise in operational costs to 875.9 million pounds driven by inflationary pressures and strategic investments.
In section Market Quotes
Halfords Shares Surge to Two-Year Peak on Profit Beat
Investors pushed Halfords Group shares to their highest level since February 2024, driving a 16% jump to 208 pence in early trading. The retail chain’s rally follows a fiscal year performance that outperformed market expectations, fueled by the company’s ongoing 'Fit for the Future' growth strategy.
Bolstered by these results, the board declared a final dividend of 6.0 pence, bringing the total annual payout to 9.0 pence. Looking ahead, the company anticipates fiscal 2027 profits to land at the upper end of its 45.7 million to 52.3 million pound target. Amidst this transition, Jock Lennox is set to assume the role of chair on September 10, succeeding Keith Williams.
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