Tandem Group (LSE:TND) reported a 6.7% increase in revenue to £11.9 million for the first half, while gross profit rose 15% to £4.0 million.
Gross margin increased to 33.3%, and the group recorded a profit before tax of £70,000, compared with a loss in the corresponding period a year earlier.
Net debt declined to £2.8 million, while net assets increased to £26.1 million.
Year-to-Date Sales Rise 9.1%
Tandem said trading improved during July and August, taking year-to-date sales growth to 9.1%.
The company reported higher sales in its bikes and home and garden categories during the period.
The board plans to conduct a review of the group’s operations and capital allocation, with the stated objectives of supporting profitable growth and improving shareholder returns.
Board Signals Intention to Resume Full-Year Dividend
Tandem’s board said it intends to resume payment of a full-year dividend if the company meets current market expectations.
The proposed dividend therefore remains dependent on the group’s financial performance over the remainder of the year.
About Tandem Group
Tandem Group plc is an AIM-listed company that designs, develops, distributes and retails sports, leisure and mobility products.
Its activities include bikes, home and garden products, toys and related consumer categories. The group operates through a portfolio of its own brands and has an 85,000-square-foot freehold warehouse.
Leave a Reply