Halfords eyes 'significant' e-bike growth as sales rise

Demand for e-bikes has helped accelerate sales at Halfords.

The motoring and cycling retailer’s revenues hit £1.8 billion in the year to April 3.

The figure was up 4.8 per cent compared with like-for-like numbers in the previous year.

It also returned a pre-tax profit of £43.6 million, which marked a significant turnaround from a £30 million loss.

The London-listed business said a highlight within its cycling segment was e-bikes, with plans to significantly expand its range including mountain and hybrid e-bikes.

Henry Birch, chief executive, said: “Cycling remains a core part of the Halfords proposition.

A particular highlight has been e-bikes.

“We see a clear opportunity to grow our position in this higher price point area of the market, particularly in the context of safety concerns linked to an unregulated online market including the sale of illegal conversion kits.

“Looking ahead, we are expanding our range of e-bikes significantly.”

The business added trading had continued to be strong in the past few months, revealing it hadn’t seen any change to customer behaviour stemming from the Iran war, although it was “sensitive” to any impact on spending in the months ahead.

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