Halfords prepares for FTSE 250 comeback, replacing Bluefield Solar
Halfords Group PLC on Friday confirmed FTSE Russell's Thursday announcement that it will rejoin the FTSE 250 index on August 4.
The Redditch, England-based motoring and cycling products retailer previously left the FTSE 250 in March, 2019. It currently trades on the FTSE SmallCap Index.
Halfords replaces Bluefield Solar Income Fund Ltd, which in June agreed to a £548 million cash offer from fellow FTSE 250 constituent Drax Group PLC.
Halfords said the move "follows a period of strategic and financial progress for the group under its growth strategy, supporting stronger financial returns and an improved customer experience."
"Joining the FTSE 250 is an important milestone for Halfords and reflects the progress our colleagues are delivering across the business," Chief Executive Officer Henry Birch commented. "Our recent results showed that the 'Optimise' phase of our strategy is gaining traction, with good sales growth, higher margins, and an increased dividend."
The company in late June reported higher annual profit and sales, beating market expectations.
Excluding a change in accounting treatment for amortisation of acquired intangibles, underlying pretax profit for the 52 weeks to March 27 increased by more than 8% to £41.5 million from £38.4 million.
On a reported basis, Halfords swung to a pretax profit of £43.6 million in financial 2026 from a £30.0 million loss in financial 2025.
Revenue for the 53-week period to April 3 increased 5.0% to £1.80 billion from £1.72 billion. Gross margin expanded by 210 basis points to 53%, its highest level in a decade.
Halfords also declared a final dividend of 6.0 pence per share, up from 5.8p, lifting the total annual payout by 2.3% to 9.0p.
"We are pleased with the momentum, but our focus remains unchanged: disciplined execution, continuing to improve our proposition for customers and creating sustainable long-term value for shareholders," Birch said on Friday.
Halfords shares traded 0.2% higher at 244.00 pence on Friday afternoon in London.
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