Tandem Group PLC Trading Update and Investor Meeting (3425X)
August 28 2020 - 1:00AM
UK Regulatory
TIDMTND
RNS Number : 3425X
Tandem Group PLC
28 August 2020
Tandem Group plc
(the 'Company' or 'Group')
Trading Update and Investor Meeting
The Board of Tandem Group plc (AIM: TND), designers, developers,
distributors and retailers of sports, leisure and mobility
equipment, announces a trading update and details for the
forthcoming investor meeting.
Trading update
As previously reported it has been a strong year for bicycles
and outdoor products. Despite the reduction in FOB business,
turnover and profit before and after tax for the 6 months to 30
June 2020 are expected to be ahead of the prior year.
The supply chain, particularly for bicycles, remains under
pressure with strong global demand on suppliers and increased lead
times. In addition, national retailers continue to be cautious in
their buying decisions. As anticipated, Group revenue fell behind
the prior year during the summer period as a result of the lack of
national retailer FOB orders and a limited supply of bicycles.
However, margin from domestic business has remained strong during
the period with lower overheads as a result of the COVID-19 impact.
As a consequence it is difficult to confidently forecast the full
year result at this stage.
Investor meeting
The Company announces that an investor meeting will be held at
the Company's Birmingham offices on 22 September 2020 at 10am.
The day will include a presentation of the interim financial
results, which will be released that morning, and strategy followed
by a tour of showrooms where various products sold by the Group
will be on display. There will also be an opportunity for investors
to ask questions to the Board.
Due to current COVID-19 safety measures in place and
corresponding space restrictions, places will be limited. Any
investor wishing to attend should pre-register by emailing the
dedicated investor relations address,
investorrelations@tandemgroup.co.uk , or by telephoning the Company
on the below telephone number. Investors who have not
pre-registered will be unable to attend on the day.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (MAR).
Enquiries:
Tandem Group plc
Jim Shears, CEO and Company Secretary
Telephone 0121 748 8075
Nominated Adviser
Cairn Financial Advisers LLP
James Caithie / Sandy Jamieson
Telephone 020 7213 0880
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the Company's or any third party's
ability to execute and implement future plans, and the occurrence
of unexpected events. Actual results achieved may vary from the
information provided herein as a result of numerous known and
unknown risks and uncertainties and other factors.
28 August 2020
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END
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