Impressive figures released by automotive retailer Halfords in the UK reflect a strong growth in car ownership and the fact that spending on vehicles is on the rise. Shares in the company, which has several outlets in Ireland, have leapt following the announcement.  

The motoring and cycling equipment retailer revealed revenues increased by 19.2% over the six months to October 1, compared with the same period in 2019. It also revised its profit guidance figure up to £90 million as a result. 

Caution over using public transport and a willingness to spend on vehicles and bicycles after restrictions were lifted, are seen as two driving factors of the results. The company also added that figures could have been even more impressive without the problems caused by supply chain issues. 

The figures in particular give a good indication to aftermarket companies of the growing potential in the motoring retail sector, especially in terms of care car products and accessories.