Halfords to update on recruitment challenges

Investors in Halfords will be hoping the retailer has made progress in repairing holes in its workforce as it is set to unveil its full-year financial results. The bike and car parts seller warned over its profits earlier in the year amid a shortage of mechanics.

Skilled Technicians

The firm, which also services cars and bikes and offers MOTs, said it was struggling to recruit enough skilled technicians to meet higher levels of demand.

Chief executive Graham Stapleton said the firm was having to look at its staff pay and flexible working policies because “people want to work less, and more flexibly”. He also said it would focus in the short term on recruiting skilled workers from rival motor service centres.

It comes amid a push to become a services-led business, with its autocentres business now making up nearly half of sales across the group following “unprecedented” demand.

Profits

Halfords is set to make a profit of almost £54 million for the latest full year, according to a consensus of analysts. It compares with a profit of nearly £100 million last year, and marks a downgrade from previous market guidance, which predicted its pre-tax profit would sit somewhere between £65 million and £75 million.