The British Halfords Group reported a 6.4 percent increase to £44.6 million (€53.3m-$71.8m) in earnings before taxes and non-recurring items for the first half ended last Sept. 27. Total revenues went up by 7.7 percent to £490.6 million (€586.1m-$789.8m), with revenues from cycling up by 14.2 percent on a comparable basis. Its auto centers booked a sales decline of 2.1 percent, but its retail stores, which sell mainly bicycles and related products, saw their sales rise by 7.9 percent to £424 million (€506.5m-$682.6m), including a 6.8 percent increase in the second quarter. The gross margin improved by 1.24 percentage points to 51.2 percent. Matt Davies, chief executive, attributed the progress to new products, a new TV advertising campaign, better weather conditions, the victories of British cyclists in international races and a good start of the reorganization program that he is masterminding at the company. Membership in British cycling clubs has risen by more than 30,000 since the victory of Bradley Wiggins in the recent Tour de France.

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