Car accessories and bike retailer Halfords has reported a 27% fall in annual profits in the face of a "tough economic environment".
In the 12 months to 31 March, the firm's pre-tax profit totalled £92m, down from £126m a year earlier. Its revenues were 1% lower at £863m.
Halfords added that sales over the past two months had been "very disappointing".
The company will now take on an extra 1,000 staff over the next three years.
Halfords employs 12,000 people, and has 467 stores across the UK and Republic of Ireland.
David Wild, chief executive, said the company wished to become "the friend of the motorist, the best cycle shop in town, and a starting point for great getaways".
He added: "Halfords continues to be profitable and strongly cash generative and we are seeking to maximise our performance in this demanding retail environment."
Source & Image : BBC
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