The adverse effects of weather are compounding weak consumption patterns, and forecasters now expect cold conditions to last into April. With Easter falling early, in Halfords Q4, we therefore believe it is prudent to revise assumptions and downgrade pre-emptively. Driven mostly by Cycling, FY18 PBT is reduced 3%, rippling through to a 2% reduction in FY19 off the lower base. With the weaker spending backdrop, we have made no allowance for any weather-led boost in higher margin Motoring, which c ....
20 Mar 2018
Pre-emptive d/grades to reflect weather conditions
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Pre-emptive d/grades to reflect weather conditions
Halfords Group Plc (HFD:LON) | 148 -5 (-2.3%) | Mkt Cap: 322.9m
- Published:
20 Mar 2018 -
Author:
Matthew McEachran -
Pages:
3
The adverse effects of weather are compounding weak consumption patterns, and forecasters now expect cold conditions to last into April. With Easter falling early, in Halfords Q4, we therefore believe it is prudent to revise assumptions and downgrade pre-emptively. Driven mostly by Cycling, FY18 PBT is reduced 3%, rippling through to a 2% reduction in FY19 off the lower base. With the weaker spending backdrop, we have made no allowance for any weather-led boost in higher margin Motoring, which c ....