Halfords Stock Surges 12% to 4-Year High on Profit Forecast Beat
TLDR
- Halfords stock rose nearly 12% to 268.85p, its highest level since March 2022
- The company raised its FY27 underlying profit forecast to £55m-£65m, above the market consensus of £52.6m
- Strong trading and unusually warm summer weather boosted demand in cycling and outdoor categories
- The weather-related benefit is expected to add mid-single-digit millions of pounds to profit
- Halfords joined the FTSE 250 on August 4 following improved financial performance
Halfords (HFD) stock jumped nearly 12% on Thursday after the British motoring and cycling retailer raised its full-year profit forecast, hitting its highest share price since late March 2022.
The stock climbed 11.56% to 268.85 pence, sharply outpacing the FTSE 250, which was flat on the day.
Halfords now expects FY27 underlying profit before tax of between £55 million and £65 million. That compares to the current market consensus of £52.6 million, which had a range of £48.9 million to £55.1 million.
The upgraded forecast comes after stronger-than-expected trading in the early part of the new financial year.
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