Annual Report and Accounts for the Year Ended 1st April 2016

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Our goal is to be customers' first choice for their life on the move."
We will achieve this by being Committed to MakingCustomers'JourneysBetter."
This is an exciting time to be part of Halfords."

Dennis Millard

Chairman

We have a clear strategic plan aimed at driving sustainable long-term growth delivered by engaged and talented colleagues."

Dennis Millard

Chairman

Introduction to Halfords

For more than 110 years Halfords has been synonymous with travel.

We are the UK’s leading retailer of automotive and cycling products, and a leading independent operator in auto repair. Many of our brands hold number one sales positions, and we see clear opportunities to grow market share in the short and long-term future.

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Our Vision

Our vision is clear:

  • To be first choice for customers’ life on the move
  • We will achieve this by being Committed to Making Customers’ Journeys Better
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Fast facts

462

Retail stores in the UK and ROI

(as of 1 April 2016)

314

Autocentres across the UK

(as of 1 April 2016)

10

Cycle Republic stores

(as of 1 April 2016)

£1bn

Group Revenue

On behalf of the Board, I would like to thank all of our 11,000 colleagues for their hard work and commitment, and also their enthusiasm in embracing the new strategy. I would also like to extend a warm welcome to the Tredz and Wheelies businesses and colleagues. We look forward to the year ahead.
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Our Marketplace

Halfords principally operates in two broad markets:

Motoring and Cycling. Around 70% of Group sales are generated from products that are principally Motoring related with the remaining 30% coming from Cycling. At a profit level, the contribution of Motoring is even greater.

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In November we launched our Moving up a Gear strategy aimed at driving sustainable long-term growth, with good progress to date.
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Our Business Model

We have a clear plan to drive long-term sustainable growth.

We will do this through the effective use of our resources and relationships.

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Group Highlights

Revenue

£m

+1.7%

Revenue
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Underlying profit before tax

£m

+0.5%

Underlying profit before tax
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Underlying basic earnings per share

+1.5%

Underlying basic earnings per share
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Underlying EBITDA

£m

+4.3%

Underlying EBITDA
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EBITDA margin

%

+28bps

EBITDA margin
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Dividend per ordinary share

pence

+3.0%

Dividend per ordinary share
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Our Integrated Report

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Material Issues

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CSR Committee Report

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Our Retail Strategy

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Our Autocentres Strategy

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Our Key Performance Indicators

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