British retailer Halfords has raised its first half profit outlook as it continued to benefit from a cycling boom during the coronavirus pandemic.
The group, which sells motoring and cycling products and services, said today that first half pretax profit was now expected to be over £55m, up from the £35-40m previously guided.
It said cycling product sales were up 46% year-on-year in the five weeks to September 25, driving group like-for-like sales growth of 22%.
