Macintosh Retail Group has decided to postpone the sales of its Halfords bicycle business, indicating that the present economic situation is making it difficult for potential buyers to arrange the financing. Macintosh announced its decision to divest Halfords last July, after selling other non-core activities. As the proceeds from Halfords' sale are expected to be lower than its book value, Macintosh will record a substantial loss on the related assets in its 2011 accounts. In spite of this, the group's management is still predicting a doubling in net profits for the financial year.

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