This was another year of strong revenue growth, this time against tough comparatives. We are delighted to have exceeded £1bn Group Revenue. Our strategy is also progressing well as we build a sustainable platform for future growth.
retail like-for-like sales
I am pleased to report strong financial results for Halfords and further progress on our strategic priorities.
At the core of our strategy is customer service and investment in our colleagues, proposition and infrastructure. In Retail, colleagues progressed well through their Gear 2 training and we have more refreshed stores, launched Cycle Republic and significantly strengthened authority in our key categories. Autocentres has a clear strategy under new leadership and has delivered an improved sales performance whilst continuing to invest.
There is still more to do in both Retail and Autocentres; FY16 will be a busy year of activity, with the business supported by a tailwind of momentum and a strong, engaged team of management and colleagues.
The financial results for the year and confidence in the future prospects have enabled the Board to recommend a full year dividend of 16.5 pence, an increase of 15.4%.
On behalf of the Board I would like to thank all 11,000 of our colleagues for their enthusiasm and commitment to the journey this business is on. I would also like to thank both Matt Davies, who left at the end of April, and Andrew Findlay, who leaves later this year. It has been a real pleasure working with both of them – their contribution to Halfords has been outstanding.
In May 2015 the Board appointed Jill McDonald as Chief Executive Officer and we are looking forward to the significant contribution she will make. She joins a business that I believe is in great shape, with significant opportunities ahead.
The new financial year has started positively, with continued progress in delivering our strategic priorities.
4 June 2015
our new chief executive
Halfords is a business and a brand that resonates with me and so I was delighted when offered the opportunity to become Chief Executive. In my first few weeks here I have been really impressed with the commitment and enthusiasm of our colleagues, and it is very apparent that the focus on delivering customer service excellence is becoming embedded in the DNA of the business.
Halfords has clearly made great progress on its strategic plans in the last year, and we will continue to deliver the priorities for FY16, as well as looking and planning further ahead.
I look forward to working with the entire team of management and colleagues to continue the positive journey that this company is on and to build upon it even further.
Chief Executive Officer
4 June 2015