Halfords sales pass £1bn mark as cycling boom continues

For the year to March 2015, Halfords' sales reached £1bn for the first time, with pre-tax profits up to £80.8m

Halfords sales passed the £1bn mark for the first time in the year to March 2015, with the sale of 1.3m bikes playing a large part in their continued growth.

The retailer announced that group sales were up 6.9 per cent to £80.8m, while full-year pre-tax profits rising by 11.3 per cent to £80.8m.

>>> Bike sales see Halfords post bumper Christmas figures

Much of the company's rise in recent years has been thanks to their increased online presence, with its online investment contributing to a 14.3 per cent increase in web sales.

Chairman Dennis Millard said: “At the very core of our strategy is customer service and investment in our colleagues, our proposition and our infrastructure.”

Adding: “There still remains much to do in both retail and autocentres and FY16 will be a particularly busy year of activity and investment as we continue to focus on driving the top-line and rolling out our Getting Into Gear strategy.”

>>> Halfords revamp to put cycling in the spotlight

New CEO Jill McDonald started at the retailer last month, replacing Matt Davies, who left to join Tesco.

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Stuart Clarke is a News Associates trained journalist who has worked for the likes of the British Olympic Associate, British Rowing and the England and Wales Cricket Board, and of course Cycling Weekly. His work at Cycling Weekly has focused upon professional racing, following the World Tour races and its characters.