LONDON (dpa-AFX) - Halfords Group PLC (HFD.L), a retailer of motoring and cycling products and services, Tuesday reported profit before tax from continuing operations of 17.8 million pounds for the first half, 23.3 percent lower than 23.2 million pounds in the same period a year ago, mainly due to higher expenses.
Excluding one-time items, underlying profit before tax declined 16.7 percent to 21 million pounds from 25.2 million pounds last year.
Net profit from continuing operations was 14.1 million pounds or 6.3p per share, down from 17.5 million pounds or 7.7p per share a year ago.
Underlying basic earning per share decreased to 7.6p from 8.9p last year.
Revenue for the period reduced 0.1 percent to 864.8 million pounds from 865.3 million pounds in the previous year.
The company's Board has declared an interim dividend of 3 pence per share, to be paid on January 17 to shareholders of record on December 13.
Halfords also noted that continued depression in markets and inflation have slowed down the company's progress to achieve its mid-term target in profit before tax. It was expecting to generate a mid-term underlying profit before tax of 90 million pounds to 110 million pounds.
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