Annual profits at Halfords have been hit by the weak pound despite a strong rise in sales.
It reported pre-tax profits fell 10.5% to £71.4m for the year to March.
Revenue was up 7.2% to nearly £1.1bn, boosted by the acquisition of upmarket bike business Tredz/Wheelies. Like-for- like revenues rose 2.7%.
Halfords said higher import costs had largely been responsible for the drop in profits.
It also said a late Easter affected recent sales, revealing a 1.2% drop in like-for- like retail sales in the final three months of its financial year.
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John has been with Wrigley Claydon for over 20 years, becoming a partner in 1995. Specialising in Employment Law, John helps clients with matters including the preparation of recruitment policies and employment contracts as well as advocating in employment tribunals in cases of unfair dismissal or discrimination. He also has considerable experience of dealing with landlord and tenant disputes and matters relating to business and company sales, commercial investment property transactions and lettings as well as residential estate and offshore property developments. “I know I’ve done a good job when the business doesn’t need me!” John is never happier than when spending time with his wife and 2 children, Lucy and Alex. John is Chair of Respect Our Community Awards (ROCA) and a board member of First Choice Homes Oldham. In his spare time, John is likely to be found either reading, cooking or walking Donnie the Golden Retriever.
Latest posts by John Porter (see all)
- Changes to Employment Law April 2020 - 5th April 2020
- Toys R Us on brink of administration - 8th January 2018
- Talk over sale of Newcastle Utd as owner Ashley meets investment firm - 22nd December 2017
- GVC gambles on Ladbrokes Coral takeover - 15th December 2017
- UK retail sales up in October against last year - 22nd November 2017