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Halfords retains clear leadership in its core retail markets of cycling and car maintenance. We are a resilient business with an excellent brand and have adapted to the changing needs of our customers by creating innovative, quality products at great prices supported by the expertise and service of colleagues.

We believe Halfords’ unique, market-leading positions provide strong potential for us to consolidate further the fragmented markets in which we operate. Our Autocentres business gives us a market leading position in a large and unconsolidated market and opens another exciting avenue of growth for Halfords.

The modern consumer environment is a challenging one but we have demonstrated that our business can make good progress in these conditions. Our market-leading positions, ongoing actions to reduce costs and strong cash flow characteristics provide a solid platform for medium-term growth through our core strategic growth initiatives.

Through this focus on creating value for our customers and active management of the business, the Board believes the Group is well positioned to develop and grow Halfords.