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Bicycle retailer Halfords expects higher annual profit, plans to repay government support By Reuters



© Reuters. A view of the Halfords store front in Rugby

(Reuters) – Halfords Group (LON:) Plc said its fiscal-year underlying pre-tax earnings would be between 90 million pounds and 100 million pounds ($125.78 million and $139.75 million) and that it plans to repay the government support it received, as the bicycle retailer benefited from a boom in cycling during lockdowns.

The company, which reported an underlying pre-tax profit of 55.9 million pounds in its previous fiscal year, said on Monday that trading in the fourth quarter to date has been stronger than anticipated across businesses.

($1 = 0.7156 pounds)

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