LONDON (dpa-AFX) - Shares of Halfords Group plc (HFD.L) were gaining around 8 percent in the morning trade in London after the provider of motoring and cycling products and services, reported Wednesday that its first-half profit more than doubled from last year on strong revenue growth.
First-half profit before tax, after impact of IFRS 16, surged 101.5 percent to 55.4 million pounds from last year's 27.5 million pounds.
Underlying profit before tax pre IFRS 16 was 56.0 million pounds, compared to 25.9 million pounds last year.
Underlying basic earnings per share pre IFRS 16 were 23.0 pence, up from 10.4 pence last year. Underlying basic earnings per share post IFRS 16 was 23.0 pence, compared to 12.2 pence last year.
Underlying EBITDA pre IFRS-16 climbed 71.3 percent to 76.9 million pounds from 44.9 million pounds last year.
Revenue grew 9.6 percent to 638.9 million pounds from prior year's 582.7 million pounds. All product areas and businesses returned to growth towards the end of the first half.
Looking ahead, the company said the outlook for second half remains uncertain given the seasonality of its business and the ongoing impact of Covid-19.
The company is not providing profit guidance for fiscal 2021, due to the latest national lockdown announced by the Government and the inherent uncertainty in the current trading environment, including the outcome of Brexit negotiations.
In London, Halfords shares were trading at 282.62 pence, up 7.66 percent.
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