CAR parts and bicycles chain Halfords today said it remained on track to meet profit targets, despite a further slowdown in sales in recent weeks.

The group reported pre-tax profits of £49.1m for the 26 weeks to September 26, an increase of 3.2 per cent on a year earlier, after efforts to boost margins offset a 1.1 per cent decrease in like-for-like sales.

Halfords said the period since the end of the half-year had seen a further slowing in like-for-like sales, but stressed it was still confident of trading profits in line with expectations.

Chief executive David Wild said the core areas of Halfords' business were doing well, particularly the car maintenance sector.

He added the company worked hard to maintain leadership in this category, with a typical store holding parts for over 90 per cent of cars in the UK.

But the market proved more challenging during the half year, as volume growth was offset by the decision of the two biggest brands in the market to reduce their prices on new products.