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Halfords forecasts growth for 2009

Halfords has forecast second-half earnings growth after it posted a 24% rise in first-half profits in 2009.

Halfords said: "We are confident of increasing profits year-on-year in the second half and that full-year earnings will be in line with expectations."

The group made a pre-tax profit of £60.9 million in the 26 weeks to October 2, compared with company guidance of £59-61 million and £49.1 million last year, on sales up 3.8% to £425.1 million.

Halfords ended the first half with net debt of £106 million, which was £20 million less than some analysts had predicted.

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