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Halfords shares rise on sales figures

Halfords shares rise on sales figures
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Year-on-year sales at Halfords climbed during the second quarter of 2009.

Transactions during the three-month period rose 3.8 per cent, the retailer stated, resulting in like-for-like sales growth of 2.2 per cent.

Shares in Halfords jumped on the stock market following the announcement this morning and were 25.2p higher at 389.5p at 13:20 BST.

A surge in the popularity of cycling goods and increases in its car maintenance business aided performance, the firm said in a trading update.

However, he noted that there has a decrease in revenue generated from sales of satellite navigation devices.

The quarterly figures mean that Halfords recorded year-on-year sales growth of 3.4 per cent over the six months to October 2nd and chief executive David Wild remarked that the company has "a solid foundation from which we are very well positioned to deliver further profit growth in the second half".

He added that he was "pleased" with the results for the first six months of the fiscal year.ADNFCR-1681-ID-19399900-ADNFCR