New CEO at Halfords celebrates appointment with share purchase
Thu 04 Oct 2012
LONDON (SHARECAST) - Matt Davies, the brand new Chief Executive Officer at Halfords Group, the FTSE-250 car and bike parts retailer, purchased 164,056 on his first day on the job.
Davies, who bought the shares for 302.22p each for a total of £495,810, has replaced former CEO David Wild, who abruptly exited the company in the summer.
The news of his appointment came late Wednesday, the day before the company revealed that full-year profits would be at the top end of guidance after a strong second quarter.
The group expects pre-tax profit to be in the region of £40-42m in the first half on the back of its second quarter performance and an acceleration of operating cost investment. The consensus estimate currently stands at just £35.8m.
In the quarter ended September 28th, group revenues rose by 6.2% year-on-year, a sharp contrast to the 5.2% decline seen in the first three months of the year. Like-for-like (LFL) sales fell by 0.1% over the half, after combining the 5.6% fall in the first quarter with the 5.6% increase in the second.
Top Director Buys
Halfords Group (HFD)
Director name: Mr Matt Davies
Amount purchased: 164,056 @ 302.22p