Rising revenues at Halfords has led to the group raising its profit guidance for the full year.
Full-year profits are expected to be in the £80-90m region, increasing from previous forecasts of £75m.
New growth in profits is from increased demand at autocentres and cycling divisions. Demand for autocentres have seen increase in revenues by 88% compared to 2020, whilst cycling revenues have increased by 8%.
“There is good momentum in our existing business, the strategically important area of motoring services continues to grow strongly, and our recent acquisitions are all performing well,” said chief executive, Graham Stapleton.
“As a result, despite the challenging trading environment, I am very excited about our future growth prospects.”
Shares in Halfords soared 11% to 311.60 this morning at 0850GMT.