Halfords shares slip after BDO extends deadline
16th June 2023 | Michael Pearn
Motor and cycling brand, Halfords, have moved to reassure investors that progress on its delayed annual report are well underway after its share price dipped.
Markets reacted with dismay to the announcement that Halfords’ auditor was delaying publication of its annual report. Auditors, BDO, have asked for more time to complete the report.
The Redditch-based firm’s share price rebounded later in the day.
BDO said it was on track to post a profit in line with expectations of between £50m and £60m and that progress on the report was well underway.
But the retailer has already had to downgrade its expected profit from £75m. It posted profits of almost £100m last year.