Key facts
- Halfords reported a £44 million pre-tax profit.
- This profit reverses a £30 million loss from the previous year.
- Halfords' revenue grew 5% to £1.8 billion.
- Growth was driven by the motoring services arm.
- The motoring services arm includes garages.
Motoring and cycling retailer Halfords has announced a return to profitability, posting a £44 million pre-tax profit. This figure surpasses analyst expectations and represents a substantial recovery from the £30 million loss recorded in the previous financial year. The company's overall revenue saw a 5% increase, reaching £1.8 billion for the period. The primary driver behind this financial turnaround is the robust growth and expansion within Halfords' motoring services segment. This division, which encompasses its network of garages, has been instrumental in boosting the company's performance and reversing previous losses.