The decreased value of the pound has had a damaging effect on profits at car parts, bikes and camping retailer Halfords, despite the company reporting strong sales figures. Pre-tax profits fell 10.5% to £71.4m for the year to March, despite revenue increasing by 7.2% to approximately £1.1bn. Jill McDonald, chief executive of the company, noted that “profit performance for the year was impacted by the weaker pound but our plans are well developed and I am confident this will be offset over time.”