LONDON (dpa-AFX) - Halfords Group plc (HFD.L), the UK-based retailer of motoring, cycling and leisure products, reported Thursday that its first-half profit before tax declined 23 percent to 28.2 million pounds from last year's 36.6 million pounds.
Basic earnings per share were 11.4 pence, down 22.4 percent from 14.7 pence a year ago.
Underlying profit before tax was 30.5 million pounds, compared to 36.8 million pounds last year. Underlying basic earnings per share were 12.4 pence, compared to 14.8 pence last year.
Underlying EBITDA for the period was 49.8 million pounds, down 9.3 percent from 54.9 million pounds in the prior year.
Revenue, however, grew 1.9 percent to 599.9 million pounds from 588.7 million pounds a year ago. Revenue increased 2.5% on a like-for-like basis, reflecting good sales of e-bikes, dash cams and motoring services.
Retail revenues grew 1.7 percent to 519.8 million pounds, and Autocentres revenues increased 3.1 percent.
Further, the company announced interim dividend per share of 6.18 pence, up 3 percent from last year.
Looking ahead, the company confirmed its full-year outlook.
The company continues to anticipate FY19 Group profit before tax broadly unchanged on FY18, with H2 performance reflecting a shift in sales mix towards less discretionary categories, greater FX benefit of circa £3m and lower Retail operating cost growth.
This guidance is subject to trading performance over the peak Christmas period and also assumes average Winter weather. We expect the short term conditions for discretionary spend to remain challenging.
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