In light of the COVID-19 pandemic and the impact on short-term profitability, the Halfords Board has taken a series of measures to preserve cash, one of which was a suspension of the dividend. After the strong close in the final quarter of FY21, the Board has recommended to shareholders that final dividend of 5.0p per share should be paid (FY20: Nil per share).
Other financial highlights include:
- Grew market share in Motoring Services and Cycling; strong growth in areas of strategic focus - Group Services, B2B and Online; delivered significant cost efficiencies.
- Underlying Profit Before Tax of £96.3m, +£40.4m above last year.
- Strong cash generation; year-end Net Cash of £58.1m, including certain non-recurring benefits.