Secondary Recommendation

Halfords

March 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Car maintenance to bicycles retailer, Halfords is going through something of a renaissance with its shares surging towards their all-time high. In spite of the tough economy, the group surprised analysts by noting on 6 January that trading was running ahead of expectations. However, the latest spike stems from its eps enhancing acquisition of car servicing and repair operator Nationwide Autocentres, which provides an exciting new leg to the business.Founded as a local hardware store in 1892 Halfords has been through several changes of ownership in the 80s and 90s before being introduced to the FTSE 250 by private equity firm, CVC Partners in 2004 at 260p a share. In spite of a gentle long-term decline in the UK car maintenance mar ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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