LONDON (dpa-AFX) - Halfords Group plc (HFD.L), a UK-based retailer of motoring, cycling and leisure products, reported Wednesday that its like-for-like revenue for the 20-week period to August 16 declined 3.2 percent and total revenues fell 3.9 percent from the previous year.
The company noted that growth in Group services, Online and B2B sales were more than offset by the impact of the challenging retail backdrop and tough weather comparators year-on-year.
Retail revenue declined 4.8 percent on a reported basis and 3.9 percent on a like-for-like or LFL basis. Of this, Motoring LFL sales fell 5.9 percent and Cycling LFL revenue dropped 1.1 percent.
Autocentres, however, recorded 2.4 percent rise in reported revenues and 1.1 percent growth in LFL revenues.
Looking ahead for fiscal 2020, the company expects underlying profit before tax to be within the range of 50 million pounds to 55 million pounds. The prior year's underlying profit before tax was 58.8 million pounds.
'Despite the challenging environment, we have seen a positive contribution to sales and profit from key elements of our customer strategy. We will continue to actively invest in these areas in the second half, focusing our resources where we see good growth opportunities,' the company said in its statement.
Copyright RTT News/dpa-AFX
© 2019 AFX News
