UK's Halfords falls after co narrows annual profit forecast range

Peel Hunt

29/11/2023 08:23

** Shares of Bicycles-to-car parts retailer Halfords Group
 HFD.L  down 17.8% at 188p
    ** Stock among top pct losers on FTSE small-cap index
 .FTSC 
    ** Co narrows annual profit forecast range by 5 mln
pounds($6.35 mln) to 48 mln pounds to 53 mln pounds
    ** Co previously forecast annual profit in 48 mln pound-58
mln pound range
    ** Co says it is challenging to predict whether recent
trends in discretionary categories will continue
    ** Brokerage Peel Hunt reduces FY24 profit before tax
estimate from 55 mln pounds to 50 mln pounds
    ** First-half print is largely in line with hopes but there
is little signs of markets picking up - brokerage
    ** Peel Hunt reiterates 'buy' rating and target price of
275p
    ** As of last close, stock up 9% YTD





($1 = 0.7869 pounds)

 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))