“Our Autocentres business was the star performer yet again,” said Graham Stapleton, CEO of Halfords. “This was delivered despite a challenging tyre market, where drivers continue to delay the replacement of unsafe tyres.”
Stapleton highlighted the worrying prevalence of worn tyres on the road. “In a recent survey of 6,000 tyres at Gatwick, Manchester and Edinburgh airports, we found that one in four vehicles had tyres that were dangerously worn or damaged,” he said.
This news underscores the importance of regular tyre checks and replacements. Worn tyres can significantly compromise a vehicle’s handling and braking performance, increasing the risk of accidents. Halfords’ Autocentres’ success suggests a rise in drivers seeking professional attention to their tyres, potentially due to safety concerns.
Despite challenging market conditions for cycling and car maintenance products, Halfords saw strong growth in their Autocentres division. This success comes amidst a concerning trend of drivers neglecting to replace worn tyres.
The company’s overall pre-tax profit dipped 18.3% to £36.1 million, while revenue grew 7.9% to £1.7 billion in the past year. However, the Autocentres business bucked this trend, with revenue increasing a significant 17.6% to £699.4 million.
Source: Motor Trader