McConechy's Tyre Services Archives

Halfords Autocentres reports 89.6% increase in pre-tax profit – next stop ‘market leadership’

The Halfords Group reported a strong set of full-year 2021 that saw the company generate total sales of 1,292.5 million in 2021, up 13.1 per cent compared with the 2020 financial year (2020: 1,155.1 million). The financial report, which was published on 17 June 2021, shows that by all measures pre-tax profits skyrocketed. Indeed, Halfords Group reported profit before tax after the impact of IFRS 16 of £64.5 million, which amounts to a headline-grabbing increase of 184.1 per cent compared with the previous year.

Halfords Autocentres accounted for an increasing proportion of the group’s overall sales figures, reporting 2021 sales of £252.5 million, up 31.6 per cent compared with 2020’s £194.1 million.

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23rd June 2021/by Chris

Halfords’ major tyre retail play

Company News, UK News

The last few weeks have seen well-known automotive retailer and autocentre owner Halfords Group make a major move into the tyre retail space. Of course, this is nothing new, the company has been travelling towards tyre retail for about a decade. The last push of this scale was in February 2010 when the company bought Nationwide Autocentres for £73 million – a move that was laden with history of its own.

McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million

Company News, Premium, UK News

Halfords Group plc bought McConechy’s Tyre Service Limited, the sixth-largest tyre retail business in the UK, on 7 November 2019 for £8.5 million. This makes the newly-expanded Halfords Autocentres the second largest tyre retailer in the UK.

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13th November 2019/by Chris

Growth and stability amongst leading UK tyre retailers

Leading Retailers (UK), Premium, UK News

6 – 10 stability, but battle for ninth position

Outside of the top five, there is a certain degree of stability amongst the remaining five companies. Those in sixth, seventh and eighth position (McConechy’s, The Tyre Group and Lodge) appear to have remained stable in terms of branch count, with 61, 58 and 40 branches respectively. However, it is worth considering all this in the context of ULM Services Ltd the fleet-orientated cooperation Universal, Lodge and McConechy’s set up during 2017. Put those three partners together and we have 119 branches and another strong contender for fifth position on the table.

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2nd May 2019/by Chris

McConechy’s Tyres acquires new van fleet

UK News

Mercedes-Benz Commercial Vehicles has supplied a new fleet of 34 Sprinter vans to Scotland’s largest independent garage chain, Ayr-based McConechy’s Tyre Service Ltd. The vans are now working across McConechy’s network of 50 branches throughout Scotland and the North of England.

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