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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Halfords Group plc       

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HALFORDS GROUP : CONTINUED DIGITAL GROWTH WITH HOURS UP BY 14.3%

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08/09/2011 | 03:47pm CEST
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09 Aug 2011 12:46

CONTINUED DIGITAL GROWTH WITH HOURS UP BY 14.3%

  • Digital now accounts for 26.9% of all listening hours, up 14.3% in a year
  • 46% of all radio listeners listen via a digital platform each week
  • Ownership of digital radios almost 40%
  • Strong growth for digital-only stations
  • BBC Radio 4 Extra now the number one digital-only station
  • DAB share of listening up to 17.2%

Listening to digital platforms is now 26.9%, according to the latest Q2 2011 RAJAR figures released today, with digital listening hours up to 289 million hours, up from 253 million hours in Q2 2010, an increase of 14.3% year on year. Of all radio listeners, 46% now listen via a digital platform each week, an increase of 2.1 million people or 10.7% year on year.

Ownership of DAB digital radios in the home has seen strong growth to almost 40% (38.9%), up from 35.3% since Q2 2010, an increase of 2 million adults.

Strong performances from digital-only stations include Absolute 80s, whose weekly reach was up by 43% quarter on quarter to 894,000, Jazz FM up 20% to 592,000, and Planet Rock up by 8% to 857,000. BBC Radio 4 Extra is now the UK’s number one digital-only station, with a weekly reach of 1.6 million people (up from Radio 7’s 1.16 million in Q1 2011), with growth also from Radio 1 Xtra, and sustained performances from 6 Music and 5 Live Sports Extra.

The share of all radio listening to DAB is now at 17.2%, up from 16.7% quarter on quarter and from 15.8% in Q2 2010. Listening to DAB accounts for 68.2% of digital listening (excluding digital unspecified).

Digital television listening has increased to 4.8% of all listening, up from 4.1% in Q2 2010. Internet listening now stands at 3.2%, up from 2.9% in Q2 2010, but down from 3.6% in Q1 2011; this quarterly decline in internet listening hours is due to a sharp decrease in workplace internet listening during the quarter.

Ford Ennals, Chief Executive of Digital Radio UK, said:

Digital radio is showing solid and sustained progress overall, with a strong performance from DAB and digital radios now in 40% of homes. People love the new digital content, as evidenced by the response to BBC Radio 4 Extra and Jazz FM, and the healthy growth in digital-only stations such as Absolute 80s and Planet Rock.

Source: RAJAR/Ipsos-MORI/RSMB, period ending June 2011, all stations and groups’ results are reported on their specified reporting period and TSA.

For more information contact:

Louise Iles

Halfords

t:01527 513206

m:07921 107362

f:01527 504780

e: Louise.Iles@halfords.co.uk

The Group is the UK’s leading retailer of automotive, leisure and cycling products and through Halfords Autocentres is also the UK’s leading independent car servicing and repair operator.

Halfords employs approximately 11,000 staff and sells over 12,000 different product lines with significant ranges in car parts, cycles, in-car technology, child seats, roof boxes, outdoor leisure and camping equipment. Halfords own brands include the in-store Bikehut department, for cycles and cycling accessories, Apollo and Carrera cycles and exclusive UK distribution rights of the premium ranged Boardman cycles and accessories. In outdoor leisure, we sell a premium range of camping equipment, branded URBAN Escape. Halfords offers customers expert advice and a fitting service called "wefit" for car parts, child seats, satellite navigation and in-car entertainment systems, and a “werepair” service for cycles

Halfords customers shop at 462 stores in the UK and ROI and at Halfords.com for direct home delivery or pick-up at their local store. Halfords Autocentres operates from 227 sites nationally and offers motorists dealership quality MOTs, repairs and car servicing at more affordable prices.

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Financials ( GBP)
Sales 2017 1 077 M
EBIT 2017 80,4 M
Net income 2017 61,7 M
Debt 2017 45,9 M
Yield 2017 5,03%
P/E ratio 2017 10,67
P/E ratio 2018 10,29
EV / Sales 2017 0,67x
EV / Sales 2018 0,62x
Capitalization 672 M
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Income Statement Evolution
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Consensus 
Mean consensus HOLD
Number of Analysts 15
Average target price 3,52  GBP
Spread / Average Target 4,3%
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Managers
NameTitle
Jill McDonald Chief Executive Officer & Director
Dennis Henry Millard Chairman
Jonathan P. Mason Chief Financial Officer & Director
Anna Barsby Chief Information Officer
Claudia Arney Independent Non-Executive Director
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