Profits at Halfords increase by 27% - graduate jobs

The UK's recent severe winter weather has made one company happy, and may spell good news for graduates looking for a career in retail: Halfords profits went up 27% thanks to its sales of car maintenance accessories.

The firm said its share of the cycling market also grew, as it reported a £117.1 million profit for the last financial year.

Halfords has had an excellent year, its chief executive David Wild said. The firm's revenue saw a 4.6% increase to £831.6 million, with its like-for-like revenue up by 0.7%.

"Our performance through this period of recession emphasises the resilient quality and adaptability of the business," according to Mr Wild.

Halfords moved into car servicing and repairs in February when it bought over Nationwide Autocentres for £73.2 million. The firm said the early signs of the move are encouraging. Halfords intends to open an additional 200 Nationwide outlets to add to the existing 224 Autocentres, which it said will create 1,000 jobs.

Like-for-like sales in car maintenance, which is 30% of Halfords's revenues, increased by 8%.

Its successful cycling sales, with like-for-likes up 15%, were because of the success of its bike brands Carrera and Apollo, Halfords said.