ANALYST VIEWS: CAN HALFORDS BOUNCE BACK FROM THESE POOR RESULTS?
NICK BUBB | ARDEN
The key thing is that Halfords has re-iterated its full-year view of good, mid-teens earnings growth, given good cost control and the benefit of the recent Nationwide Autocentre acquisition, which continues to integrate well. We therefore hold our full-year profit forecast of £136m, a tad ahead of consensus.
MARK PHOTIADES | SINGER CAPITAL MARKETS
Trade was disrupted by a number of external factors including the Election, the Budget and the World Cup. Poor weather in April also contributed to the sluggish start. we do not expect any change to our own 2011 profit estimate estimate – £136.0m – or consensus £136.4m.
KEITH BOWMAN | HARGREAVES LANSDOWN
The update is disappointing at the margin. Exceptional factors such as
the General Election and the football World Cup appear to have impacted, whilst trading at the newly acquired Autocentres has proved below management forecasts. Nonetheless, core categories such as cycling continue to deliver.