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Halfords' cycling sales rise on Olympics boost

(Reuters) - Halfords Group Plc (HFD.L) reported strong cycling sales over the peak summer period helped by Britain's success in the Rio Olympics, deeper promotions and good weather.

Like-for-like cycling revenue for the seven weeks to Aug. 19 swung to a 12.5 percent rise from a 4 percent fall in the first quarter.

Shares in the FTSE 250 company rose as much as 3.6 percent in early trading. They were up 2.1 percent at 380.9 pence at 0847 GMT.

Britain bagged a total of 11 medals in track cycling events in Rio this year, including six gold and four silver.

The Cycle Republic owner had teamed up with two gold medallists, Bradley Wiggins and Laura Trott, earlier this year to launch new cycling ranges for kids and women.

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The bicycles-to-car parts retailer said its total retail revenue rose 10.3 percent, up from 1.5 percent in the first quarter. It also kept its full-year forecast unchanged.

Like-for-like sales in its car enhancement business slipped 3.3 percent hurt by slowing sales of satellite navigation systems (sat nav).

"We did see continued decline in sat nav (sales), but dash cam continues to grow significantly as more insurance companies offer incentive to motorists to install dash cams," chief executive Jill McDonald said during a media call.

(Reporting by Rahul B in Bengaluru; Editing by Sunil Nair)