Halfords upgrades profit forecast but braces for £23m Budget hit

Halfords has raised its profit expectations for the year following improved trading, but warned it is preparing for a £23m rise in direct labour costs due to changes outlined in the UK’s Autumn Budget.
The motoring and cycling retailer now expects underlying profit before tax to reach between £32m and £37m, up from previous estimates.
This comes after a robust performance in Q3, where like-for-like sales growth was positive in both its retail and autocentre divisions