Halfords: big pandemic winner and the future looks electrifying!
Halfords recently reported an improving financial performance in its first-half results. Does its evolving business model mean that it can deliver further share price growth in the long run after its recent rally?
Halfords Group (LON:HFD), the UK's leading (and last standing on the high street) provider of motoring and cycling products and services, recently announced terrific results for the 26 weeks to 2 October 2020. While it doesn’t quite meet the criteria for our high-performing Mega Trends Portfolio, Halfords’ evolving offering appears to be very much on trend. In a challenging period for many physical retailers, Halfords saw revenue grow 9.6% to £639m in the 26 weeks to 2 October, with underlying pre-tax profit more than doubling to £56m. Adjusted operating cash flow was a glorious £186m, while free cash flow was £169m as…