Halfords reveal profits of €45m in 2024
Halfords has revealed stronger-than-expected profits for the past year, supported cost savings and pricing measures.
The motoring and cycling retailer said it saw underlying pre-tax profits rise by 6.4% to £38.4m (€45m) for the year to March 28. It had previously pointed to profits between £32m (€37m) and £37m (€43m). Halfords has 20 branches in Ireland.
Recently-appointed chief executive Henry Birch said it reflected a "strong" performance from the business and made progress with its growth strategy. It came as the company sought to reduce costs in order to cushion the impact of UK inflation.
Halfords told shareholders that it saw around £33m (€38.7m) of cost inflation over the year, partly driven by the increase in the minimum wage. It said it had offset this through cost savings worth around £35m (€41m).
The group said it improved its profitability over the year through improving its buying operations and higher pricing.
Total revenues rose 0.1% to £1.72bn (€2.02bn) for the year, with like-for-like growth of 2.5%. The firm's autocentres business saw like-for-like growth of 3.7%, while retail sales were up 2.1%.
The retailer also said that "warm spring weather and a late Easter" helped it keep momentum into the start of the new financial year, with its cycling business performing "very strongly".
"The business has delivered a strong financial performance, made good strategic progress and has a clear plan in place to tackle external inflationary forces," said Mr Birch. "It is an exciting time to be joining and I see significant potential to optimise and grow this fantastic business."
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Irish Examiner
14 hours ago
- Irish Examiner
Halfords reveal profits of €45m in 2024
Halfords has revealed stronger-than-expected profits for the past year, supported cost savings and pricing measures. The motoring and cycling retailer said it saw underlying pre-tax profits rise by 6.4% to £38.4m (€45m) for the year to March 28. It had previously pointed to profits between £32m (€37m) and £37m (€43m). Halfords has 20 branches in Ireland. Recently-appointed chief executive Henry Birch said it reflected a "strong" performance from the business and made progress with its growth strategy. It came as the company sought to reduce costs in order to cushion the impact of UK inflation. Halfords told shareholders that it saw around £33m (€38.7m) of cost inflation over the year, partly driven by the increase in the minimum wage. It said it had offset this through cost savings worth around £35m (€41m). The group said it improved its profitability over the year through improving its buying operations and higher pricing. Total revenues rose 0.1% to £1.72bn (€2.02bn) for the year, with like-for-like growth of 2.5%. The firm's autocentres business saw like-for-like growth of 3.7%, while retail sales were up 2.1%. The retailer also said that "warm spring weather and a late Easter" helped it keep momentum into the start of the new financial year, with its cycling business performing "very strongly". "The business has delivered a strong financial performance, made good strategic progress and has a clear plan in place to tackle external inflationary forces," said Mr Birch. "It is an exciting time to be joining and I see significant potential to optimise and grow this fantastic business."
The Irish Sun
5 days ago
- The Irish Sun
Homes Under The Hammer's Martin Roberts gives shock update on hotel project, admitting ‘I have failed on every level'
WITH total honesty, Homes Under The Hammer presenter Martin Roberts admits: 'For a man who spends all his time telling people to make sure they stick to their budgets and timescales, I have failed on every single level.' Two years ago, the property expert showed The Sun around his own DIY project to turn a run-down Welsh village pub into a top tourist attraction. Advertisement 8 Homes Under The Hammer presenter Martin Roberts admits his project to renovate a Welsh pub has been a failure Credit: Dan Jones Images 8 The back of the hotel shows a building in dire need of urgent renovation Credit: Huw Evans And just like he does on the hit property show, I asked: 'What is your timescale?' Back then, in spring 2023, Martin was convinced it would take just two years and around half a million pounds to So here we are, two years later, and on the outside, the eight-bedroom boozer looks . . . exactly the same. Martin, 61, who has witnessed more than 3,000 property renovations on his BBC daytime show, says: 'I'm still smiling but, oh my word, what a challenge it's been. Advertisement READ MORE ON MARTIN ROBERTS 'I'll be honest, it's the first commercial property I've ever done. 'There have been lots of residential houses and flats, but commercial properties have a lot more complications. 'I'd say we are 60 per cent of the way there.' But when I ask how soon we can expect the pub to be open, Martin hedges his bets and shrugs: 'I think it's going to come together really quickly in the final few months. Advertisement Most read in News TV 'I'm hopeful for Halloween but Christmas would be good. If not, in time for Easter.' One of the many hold-ups, according to Martin, has been dealing with planners who insist he makes preparations in case the pub in the former mining village of Blaencwm is hit by a once-in-a-century flood. Homes Under the Hammer's Martin Roberts announces new series that's world's away from beloved BBC show He says: 'We've got to do it right, and we will do it right, but unfortunately that means there's lots of hoops to jump through.' It is only three years since Martin was minutes from death and Advertisement Doctors who carried out the surgery to drain fluid from the sac surrounding his heart told him in future to choose the easy life and avoid unnecessary stress. That is advice he does not seem to have followed. He could have spent his spare time living at his Rhondda Valley farmhouse — which he bought after falling in love with the area — and enjoying the stunning scenery which is popular with mountain bikers. Instead he decided to seize life and bought the pub lock, stock and barrel — without telling his wife Kirsty. Advertisement My head is going, 'What the absolute bleep have you done here?' Every single wall was cock-eyed, every single window was falling down. Add to that the small matter of bats nesting in the leaking roof. Martin Roberts In fact, father-of-two Martin thought he had kept the purchase a complete secret, but he reveals: 'My cleaner rang me up one day and said, 'Have you bought the Hendrewen?' 'It turns out her auntie was in the queue at Asda and the woman behind was saying, 'That Martin Roberts has bought the Hendrewen'. 'It's just hysterical because as far as I was concerned I hadn't told anybody, but it was being discussed in Asda.' next year — or whenever the pub finally opens. Advertisement But he has also given The Sun an exclusive peek at his architect's visualisations of how the pub will look when the work is finally done — including a wacky upside-down Rolls-Royce suspended from the ceiling in the dining area. 8 Martin has shared an artist's impressions of his ambitious plans to renovate the bar and restaurant Credit: Supplied 8 The bar and hotel aims to employ around 30 locals in one of the most deprived areas in Europe Credit: Supplied As well as a new bar and restaurant, there will be eight bedrooms, all named after hit TV shows. Advertisement Martin says: 'When I was a travel journalist I probably stayed in hundreds of hotels and often they all looked the same. 'The ones I remember most are those where the rooms felt individual. "So in my hotel I wanted to create rooms that had an individual feel. 'Then I woke up in the middle of the night and suddenly thought, why don't I theme them around what I know and what I'm known for, which is television. Advertisement 'Each room is themed around a legendary TV show. Obviously we're going to have a Homes Under The Hammer room with lots of memorabilia and funny stuff from the 20 years of the show. 'We're going to have a Doctor Who room, which is very science fiction-y. 'Next Stereophonics' 'A Fawlty Towers room where the light fittings are broken, the wallpaper is hanging off, beds are going to be very creaky and lots of quotes from Fawlty Towers on the walls. 'A Question Of Sport room will have lots of sports memorabilia. Advertisement 'There will also be a Top Of The Pops room, an Antiques Roadshow room, a Planet Earth room and one that is a tribute to Top Gear. 'I've been collecting things from car boot sales, flea markets and online for the last two years. Now I've got lots of TV memorabilia so these rooms can be decorated in the style of different telly programmes. It's going to be great.' 8 Martin is still optimistic his grand plans will accelerate over the coming months Credit: Supplied When the Hendrewen Hotel does finally open it will employ around 30 locals in one of the most deprived areas in Europe. Advertisement Teenage students on catering and hospitality management courses will get practical experience working in the pub and in the hotel. Martin says: 'They'll get a chance to run a real-world place. We're going to have a teaching kitchen where celebrity chefs will come along and pass on their cookery skills. 'We're also putting in a stage with lots of musical instruments, which the locals will be able to come and use. 'And we'll have visiting musicians coming along, teaching musical skills to local kids. We might discover the next Advertisement He also has a team of teens aged 15 to 17 working with his tradesmen, learning the skills to be plasterers, carpenters, electricians and plumbers. Martin says: 'By working in the pub, these kids are getting a massive step up the ladder. A lot of their lives have been transformed. 'We've had kids come off drugs. We've had kids who wouldn't get up out of bed in the mornings who are now arriving early to work because they're enjoying it so much. 'These kids have been told by the schools that they're rubbish. They come in, we give them a paintbrush or a trowel and say, 'There's a wall, you've got to work on this'. We teach them, and they walk away, heads held high, a belief in themselves has returned. Advertisement 'They also walk away with a CSCS card, an industry qualification which shows they've got the safety experience to work on a building site. 'If one day they say working with me was a turning point in their life, I'll be thrilled. 8 Martin plans to create TV themed rooms in the hotel, including one based on Homes Under The Hammer Credit: Supplied 'Village lost its heart' 'Some of the youngsters have given up drugs . We have one lad who struggled to communicate because of a really strong stammer, but he's grown in confidence. Advertisement 'Now he won't stop talking and his stammer has diminished, which is great to see. 'I was three hours away from death, so I am even more driven to do things, not to make me money — because it's certainly not doing that — but to do some good, and to change lives. 'Because that's what you'll be remembered for, not for having a million pounds in the bank.' He adds: 'Bear in mind that some families around this area have generations of unemployment. It's like breaking a cycle and the kids get to see the joys of working.' Advertisement 8 Martin has been presenting Homes Under The Hammer for two decades Credit: Lion TV And Martin admits there are still months of hard graft ahead. He says: 'I've broken every single one of my rules! 'I have been driven by my heart. I made the classic error of going, 'It's a little pub, it closed at the start of lockdown, and the village has lost its heart and it needs me'. 'At the same time, my head is going, 'What the absolute bleep have you done here?' Every single wall was cock-eyed, every single window was falling down. Add to that the small matter of bats nesting in the leaking roof. Advertisement 'It has ups and downs. I still have days when I really struggle with my health. 'This is the thing that just keeps me going. 'I've got people relying on me and I won't let them down. I'm not going to give up.' The last episode of Martin's programme will be the hotel's grand opening. Advertisement He has already booked the world- famous Treorchy Male Choir and a big-name female celebrity . He says: 'I am absolutely supersizing it for the opening. 'The Valleys will have never seen anything like it." And there's light at the end of his tunnel too... 8 Martin has played a key role in the renovation the tunnel linking the Rhondda and Afan Valleys Credit: Huw Evans Advertisement THE end is in sight for Martin's other fix-me-up project in the Welsh Valleys. His hotel in Blaencwm sits at one end of an incredible two-mile railway tunnel that has been closed off for more than 60 years. Martin is patron of the campaign to reopen the tunnel, which links the Rhondda and Afan Valleys, and turn it into a major tourist attraction. When it reopens it will be the longest all-year-round-use tunnel in the world for cyclists and walkers. Advertisement Last week Railway Paths, a charity that restores old railway infrastructure, became a partner in the Rhondda Tunnel, which was used to transport coal from mines in the Valleys to Swansea docks. The £2million restoration could be open in two years. Martin says: 'Now all we want is for the Department for Transport to give us the tunnel. It's not going to cost the UK or the Welsh governments anything. 'The partnership with Railway Paths is a marriage made in heaven. Advertisement 'This could be the vital step to finally making our dreams and hopes a reality. 'Being the longest continually open walking and cycling tunnel in the world will attract visitors from all around the globe to this area.'
The Irish Sun
7 days ago
- The Irish Sun
Huge blow as drivers' go-to car repair garage abruptly shuts up shop after motoring retailer ‘reviews estate'
A GO-TO car repair garage has suddenly closed its doors in a devastating blow to motorists in the area. The abrupt closure comes after a "review of our estate" by the company. 1 It comes amid a series of stores closures along that same road in Oxford Credit: Google Maps National Tyres and Autocare, which is a Halfords company, has shut in Oxford on Abingdon Road. A spokesperson for Halfords said: "We can confirm that our National Tyres and Autocare garage on Abingdon Road has closed following a review of our estate in the area. "We are committed to supporting impacted colleagues and are offering alternative roles at nearby Halfords locations where possible." The company also read more in motors They also have the option of Halfords Mobile Expert, which provides services at residents' doorsteps. It comes amid a series of stores closures along that same road in Oxford. Akiport Convenience Store, Akiport Cafe, and the Berkshire pub all shut last year due to traffic restrictions on the road, the Oxford Mail has reported. Gwyngrocers, also known as Top Tackle, closed its doors on Abingdon Road in January. Most read in Motors Oxford City Councillor deputy leader and cabinet member for zero carbon Oxford Anna Railton told This is Oxfordshire: "I'm sorry to see a business in Abingdon Road close. "But I'm glad to see and support the two new nearby businesses and the emerging plans for a Chinese in the Berkshire. "There remain many great independent businesses on the road – but you do have to use them or lose them." The Abingdon Road garage closure comes after another branch site shut its doors last month. National Tyres and Autocare in Wellingborough, Northamptonshire , had been a go-to for locals for years. But the garage on Oxford Street has also been marked to shut down. Like in Oxford, this came following what the company calls a "review of our estate".
