Halfords has announced that underlying PBT for FY25 (to March) is expected to be at the upper end of the £32m-£37m guided range. We therefore increase forecast FY25 PBT by 10.8% from £32.5m to £36m. For FY26, with employment cost headwinds expected to be fully mitigated, we increase PBT by 9.1% to £36m. This is flat on upgraded FY25 estimates due to a cautious outlook for the UK consumer. With the operational progress Halfords is making, including its rollout of the Fusion Town site format, we s ....
