According to the corporation, a competitive labor market has caused capacity limits, although supply chain and lockup issues have “nearly gone.”
Halfords, a supplier of bicycles and auto parts, has announced that it will hire 1,000 auto mechanics over the next 12 months.
The corporation hopes to entice retirees back into the workforce and increase the number of women in technical positions because competition for workers has produced issues.
In its interim results report for the 2023 fiscal year, Halfords stated, “A competitive labor market has caused capacity challenges.”
Employment will be generated as a result of increased demand for Halfords’ automobile services.
Service-related sales surpassed £326 million and represented nearly half (approximately 42.6%) of Halfords group sales, up from £230 million last year and greater than service-related revenues in the entire fiscal year preceding the pandemic of 2020.
All business segments grew above pre-COVID-19 levels, with autocentres revenue increasing by 30%, retail motoring by 10%, and cycling by 8.6%.
Halfords has addressed higher costs caused by inflation by implementing cost and efficiency measures that will save more than £20 million, exceeding the company’s earlier savings goal of £15 million.
In the upcoming second half of the year, Halfords has “excellent visibility” on costs and has purchased utilities at levels comparable to last year.
After acquiring Lodge Tyre last month, Halfords became the largest commercial tire supplier in the UK.
As Lodge Tyre offers motoring, service, and business-to-business revenue streams, the acquisition will cause service-related revenues to account for around 48% of the group’s revenue.
Last year, Halfords recorded a decline in sales due to supply chain disruptions and cautioned that it may take time to resolve its difficulties.
Tuesday, the company reported that the supply chain and lockdown difficulties caused by COVID-19 had “nearly fully subsided.
However, it noted that the operating climate “remains extremely difficult, with the biggest cost-of-living crisis in a generation.”
