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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Halfords Group plc    HFD   GB00B012TP20

Delayed Quote. Delayed  - 11/17 05:35:27 pm
333.5 GBp   -0.18%
11/10 HALFORDS : Weak pound hits Halford
11/09 Halfords profit falls as weaker pound lifts costs
11/08 FTSE inch up but Persimmon update hits housebuilders
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Halfords profit falls as weaker pound lifts costs

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11/09/2017 | 10:31am CET

British bicycles to car parts retailer Halfords Group (>> Halfords Group plc) on Thursday reported a smaller than expected half-year profit, hurt by higher costs resulting from a weaker pound.

British bicycles to car parts retailer Halfords Group (>> Halfords Group plc) on Thursday reported a smaller than expected half-year profit, hurt by higher costs resulting from a weaker pound.

Weakness in the currency since Britain's vote to leave the European Union has raised Halfords' sourcing costs, prompting it to implement a plan to reduce the impact, including working with suppliers and raising prices.

Sterling's depreciation resulted in a rise of 15 million pounds to Halfords' cost of sales in first half, which the company said was in line with its forecast of a total of 25 million pounds for the full year.

"Our plans to mitigate the forex impact are on track and working well. At current exchange rates this impact will reduce significantly going forward," Chief Financial Officer Jonny Mason said on a post-earnings call.

Underlying pretax profit fell by 9.8 percent to 36.8 million pounds in the 26 weeks to Sept. 29, slightly missing analysts' average estimate of 37.4 million pounds, on revenue up 3.8 percent at 588.7 million pounds.

The retail gross margin dropped by 182 basis points to 45.7 percent, the company said in a statement.

Shares in Halfords were down 5.6 percent at 315 pence 0921 GMT, though Investec Securities analysts said the worst of the forex headwinds are now behind the company.

Halfords, undergoing a leadership transition after former CEO Jill McDonald moved to Marks & Spencer (>> Marks & Spencer Group), stuck to its guidance for the full year, which will include the crucial Black Friday and Christmas holiday season sales.

The retailer has appointed Dixons Carphone (>> Dixons Carphone) executive Graham Stapleton as its new CEO from January, with Mason filling the post on an interim basis.

Haldfords said it would pay a 3 percent higher interim dividend of 6 pence per share.

(Reporting by Ismail Shakil in Bengaluru; Editing by David Goodman)

Stocks treated in this article : Dixons Carphone, Marks & Spencer Group, Halfords Group plc
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Latest news on HALFORDS GROUP PLC
11/10 HALFORDS : takes a hit from costs of sterling Brexit fall
11/10 HALFORDS : Weak pound hits Halford
11/09 Halfords profit falls as weaker pound lifts costs
11/08 FTSE inch up but Persimmon update hits housebuilders
10/18 HALFORDS : Road-users want tougher action on rule-breaking
10/16 HALFORDS : Surrey tractor gets DAB digital radio upgrade
09/24 HALFORDS : customers warned not to touch product over fears it could explode
09/22 HALFORDS : Action demanded on 'discriminatory' postal fees
09/14 HALFORDS : New Halfords chief
09/14 HALFORDS : appoints Graham Stapleton to chief executive role
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2016 Halfords Group Plc ADR 2017 Q2 - Results - Earnings Call Slides
Financials ( GBP)
Sales 2018 1 136 M
EBIT 2018 77,0 M
Net income 2018 59,2 M
Debt 2018 63,0 M
Yield 2018 5,49%
P/E ratio 2018 11,18
P/E ratio 2019 10,82
EV / Sales 2018 0,64x
EV / Sales 2019 0,61x
Capitalization 664 M
Chart HALFORDS GROUP PLC
Duration : Period :
Halfords Group plc Technical Analysis Chart | HFD | GB00B012TP20 | 4-Traders
Technical analysis trends HALFORDS GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 3,47  GBP
Spread / Average Target 4,1%
EPS Revisions
Managers
NameTitle
Jonathan P. Mason Director, Chief Executive & Financial Officer
Dennis Henry Millard Chairman
Claudia I. Arney Independent Non-Executive Director
David Alexander Robertson Adams Senior Independent Non-Executive Director
Helen Jones Independent Non-Executive Director
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