STRONG Christmas bike sales helped Halfords stick to full-year profit guidance of between £50m and £55m yesterday as it unveiled figures for the festive period.

Group revenue rose 4.6 per cent in the 14 weeks to 3 January while like-for-like sales climbed 1.3 per cent as the repair shop reconfirmed its operating profit target. Cycling sales jumped 5.9 per cent on a comparable basis, as Halfords staff built 86,000 bikes in the week before Christmas.

Meanwhile, autocentre revenue soared 31.2 per cent in Halfords' third quarter and like-for-like autocentre sales grew 4.6 per cent.

Meanwhile, autocentre revenue soared 31.2 per cent in Halfords' third quarter and like-for-like autocentre sales grew 4.6 per cent.

The company's share price rose 5.5 per cent to 153.5p.

(c) 2020 City A.M., source Newspaper