Bicycles to car parts retailer Halfords today reported a 7.5% fall in annual profit, hurt by the post-Brexit vote fall in the value of the pound that increased the costs of imported goods.
Halfords' results for the year to March 31 are the last to be presented by chief executive Jill McDonald.
She resigned earlier this month to take up a position leading Marks & Spencer's clothing and homewares business and will leave Halfords in October.
The company made a pretax profit before one-off items of £75.4m - slightly ahead of market expectations of £74.8m, according to Reuters data.
But it was down from £81.5m in 2015-16. Revenue increased 7.2% to £1.1 billion.
"Profit performance for the year was impacted by the weaker pound but our plans are well developed and I am confident this will be offset over time," Jill McDonald said.
She said that although currency pressures will continue to impact profits in the current 2017-18 year, mitigation plans were well developed.
"We anticipate FY18 profit to be in line with current market expectations and remain confident in the outlook for the group," she said.
