LONDON (ShareCast) - Car and bicycle parts retailer Halfords boosted profit by 3% during the first six months, but like for like sales fell 1.1% and have slowed further since the end of the half-year.

Profit before tax for the 26 weeks to 26 September rose to £49.1m from £47.6m in 2007 on revenue up 1.6% to £407.1m.

“Combined with ongoing cost focus and product and service initiatives, these provide the board with confidence in the delivery of full year profit before tax, from trading activities, in line with expectation,” it said.

Full year reported profit before tax will reflect reorganisation costs is expected to be about £2m, with the resultant benefits crystalising in the next and future financial years.

“Furthermore, the success of our initial pilot in Central Europe encourages us to accelerate our operations in this region to secure future growth.,” added chief executive David Wild.

The interim dividend rises to 5p a share from 4.75p last time.

Halfords will announce its interim management statement on 15 January.

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