May 22, 2014 / 6:31 AM / 3 years ago

Cycle sales help Halfords Group's profit edge up

LONDON, May 22 (Reuters) - Halfords Group, a cycles and auto parts retailer, said its full-year adjusted pretax profit rose 1.1 percent, helped by a strong performance in cycles in its final quarter.

The group posted full-year profit before tax and recurring items of 72.8 million pounds ($123 million), just ahead of analysts’ forecasts of 70.1 million pounds, according to a company-provided consensus.

Group core earnings fell 2.3 percent to 101.1 million pounds, against 103.4 million in 2013. It said that despite challenging sales comparatives ahead, it would turn that around in the current year to post earnings ahead of the 2013 figure. ($1 = 0.5925 British Pounds) (Reporting by Paul Sandle; editing by Sarah Young)

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