Halfords shares dip after BDO delays audit results

Halfords, the UK’s leading retailer of motoring and cycling products, has announced there will be a delay to the publication of its annual report, which was set to be released on 15 June.

The retailer has stated that the reason for the delay comes after BDO, the group’s auditor, requested more time to complete their standard audit procedures. 

Following the announcement, Halfords’ shares dropped on 14 June to 185p, but are now back at almost 200p. 

Despite the delay, Halfords has reassured its shareholders that the annual report is “well advanced” and it expects an underlying profit before tax to be within its previously guided range of £50m to £60m. 

The retailer has announced that it will now publish its preliminary results for FY23 on 21 June.

BDO has been contacted for comment.