Halfords posts rise in profits

The rise to 68.7m in the six months to October 1 was helped by cost cutting measures, its growing business helping consumers to fit car parts and increased website sales.

Sales in its core retail business fell 4.2 per cent to 407.3m in a period in which availability suffered after it opened a new warehouse in Coventry.

The figure was down 4.9 per cent on a like-for-like basis and has remained under pressure with a decline of five per cent in the first six weeks since the end of the half-year.

Like-for-like sales of bikes, which include its range sponsored by Chris Boardman, declined by one per cent in the past quarter due to poor availability caused by the opening of the warehouse and problems with suppliers in the Far East.

Halfords bought Nationwide Autocentres in February and is in the process of rebranding the centres under the Halfords Autocentres brand.

It plans a national advertising campaign in the spring to push its car repair and servicing business.