Halfords Group PLC

Halfords Group PLC (LSE: HFD) is an FTSE All-Share listed retailer of automotive and cycling products. The Company is also an independent operator in auto repair. It operates in two segments: Halfords Retail, which operates in both the United Kingdom and the Republic of Ireland, and Halfords Autocentres, which operates in the United Kingdom.

FY23 Preliminary Results (released on 19 June 2023)

• Increased Sales: The group revenue increased to GBP 1,593.5 mn in FY23 as compared to GBP 1,382.4 mn in FY22. The major growth was from Autocentres, which reported incremental sales of GBP 233.2 mn in the reported period due to the launch of same-day tire fitting, Motoring Loyalty Club, etc, whereas the retail segment saw a marginal decline in sales by GBP 22.0 mn in FY23 as compared to pcp.
• Deteriorating Financial performance: The company reported a decline in the Underlying EBITDA of GBP 186.0 mn, which slipped by GBP 21.1 mn as compared to FY22, whereas the profit before tax sunken by GBP 53.1 mn to GBP 43.5 mn in the reported period FY23 versus the profit before tax of GBP 96.9 mn in FY22.
• Revised Guidance: The management stated an upward revision of the fup price sales by GBP 137 mn for FY24 from GBP 4.53 bn to GBP 4.67 bn, whereas the full-year profit expectations increased by GBP 40 mn to GBP 835 mn for FY24.
• Dividend Declaration: The management declared the final dividend of GBX 7.00 per share which will be paid to the shareholders in September 2023. This brings an increase of 11% to the total dividend of GBX 10.00 per share as compared to FY22.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Halfords Group PLC (LSE: HFD) was trading at the closing market price at GBX 207.60 (as of 21 June 2023).

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 21 June 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.’

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