UK Roof Boxes Retailer Halfords Reports Jump in Profits

United Kingdom car roof box retailer Halfords has reported an 18 percent jump in first-half underlying profit and set an interim dividend of 3.7 pence per share in its first set of results since it floated in June.

Operating profits before goodwill and exceptional items at the group which sells, in addition to roof cargo boxes, alloy wheels, and child car seats jumped 18.3 percent to 46 million pounds.

After interest payments, pretax profit nearly trebled to 26.5 million pounds. Last year the firm was paying more interest as it was carrying much higher levels of debt before its flotation.

"This represents good growth," said Nick Bubb, analyst at Evolution Securities, who rates the stock an "add".

Analysts have said Halfords has a strong position in a growing market within the luggage-cargo roof box retail sector where competition is not as fierce.