Autocentres drive strong Halfords 20-week figures

Halfords Group plc announced a strong trading update on 8 September, with the 20-week figures once again illustrating the rapid growth of the company’s automotive businesses such as Halfords Autocentres and its more recently-acquired tyre wholesale and truck tyre operations.

Given the highly unusual market conditions in 2020, the figures focus on revenue growth on a two-year basis, comparing FY22 revenue to FY20. Total sales growth of +18.7 per cent (+16.8 per cent like-for-like) over two years is impressive enough, but when you consider that what are termed “B2B sales” were up 80 per cent. And online sales were up 83 per cent on a two-year basis, it is clear that the numbers are being driver by particular trends.

At the centre of this is Halfords Autocentres business, which has grown 86.2 per cent, according to the figures.

Graham Stapleton, Chief Executive Officer, commented: “Our motoring business now represents 65 per cent of our revenues and continues to go from strength to strength, driven by the increased scale of our Autocentres business, the ongoing demand for our Halfords Mobile Expert Vans, and by recent staycation trends.”

Moving forward, Halfords says it is targeting “strong growth in our Services and B2B businesses, alongside an improved Retail Motoring performance.”