Solid sales growth in a challenging retail environment
· Total Group revenue +3.7% and +2.0% LFL, reflecting further improvements to service proposition and product ranges
· Retail Motoring sales +1.9% and Cycling +2.9% on a LFL basis
· Retail gross margin decline as expected; improved through the year as adverse FX impact receded
· Autocentres sales +0.2% LFL with improved gross margin and higher EBIT year-on-year
· Service-related Retail sales +14.2%; Group online sales +11.8%
And later;
The Board has recommended a final dividend of 12.03 pence per share (FY17: 11.68 pence), taking the full year ordinary dividend to 18.03 pence per share, an increase of 3.0%. If approved the final dividend will be paid on 31 August 2018 to shareholders on the register at the close of business on 27 July 2018.
We continue to target coverage of around 2 times on average over time. However, the impact of adverse FX movements will reduce cover initially until fully mitigated, which will take some time.
https://www.investegate.co.uk/halfords- ... 00077953O/