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Motoring and cycling products and services provider Halfords upgraded its outlook on full-year performance after profit grew by more than a third in the first half of the year.
For FY2022, the company increased its underlying pre-tax guidance to between £80 million and £90 million, up from £75 million previously, citing good sales momentum and the easing of supply chain disruption.
For the 26 weeks to 1 October 2021, pre-tax profit rose 36.8% to £64.3 million year-on-year as revenue increased 19.2% to £694.8 million.
Growth was led by motoring service, which grew 6.2%, driven by 'market share gains in core categories and strong demand for staycation products, up +45%,' the company said.
'We also continued to see a significant contribution from areas of strategic focus, with revenue from group services, online and B2B, all growing by more than 75% on a two-year basis,' the company said.
'In cycling, demand levels remain good, and we are pleased with the current availability of kids bikes and e-bikes as we head into the Christmas trading period.'