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Halfords Group fiscal H2 profit climbs 23.0% YOY

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Halfords Group fiscal H2 profit climbs 23.0% YOY

Halfords Group PLC said its normalized net income for the fiscal second half ended April 3 came to 11 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 12 pence per share.

EPS increased 23.2% year over year from 9 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £21.7 million, a gain of 23.0% from £17.6 million in the second half ended March 28, 2014.

Total revenue grew 11.6% on an annual basis to £501.3 million from £449.1 million, and total operating expenses climbed 10.9% on an annual basis to £464.9 million from £419.1 million.

Reported net income rose 23.5% year over year to £26.5 million, or 13 pence per share, from £21.5 million, or 11 pence per share.

For the year, the company's normalized net income totaled 27 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 31 pence.

EPS rose 15.2% from 23 pence in the prior year.

Normalized net income was £52.6 million, an increase of 15.5% from £45.5 million in the prior year.

Full-year total revenue grew 9.1% on an annual basis to £1.03 billion from £939.7 million, and total operating expenses increased 8.8% on an annual basis to £937.8 million from £861.9 million.

The company said reported net income rose 18.4% year over year to £65.7 million, or 33 pence per share, in the full year, from £55.5 million, or 28 pence per share.