Good morning,
Due to popular demand, I will be taking a bit more care formatting these notes in future and I hope the changes are well received.
Two announcements this morning that looked interesting, Tandem (LON:TND) and Brainjuicer (LON:BJU).
Tandem (LON:TND)
Tandem (LON:TND) is a manufacturer of bicycles and toys. It owes some of its own brands (such as Claud Butler) and also manufactures under license, particularly children's TV characters.
Results for the six months ending in June are here:
http://www.investegate.co.uk/tandem-grp-plc--tnd-/...
Everything looks good about today's statement.
Group revenue in the six months to 30 June 2014 was £13,735,000 compared to £11,251,000 in the six months to 30 June 2013. Gross profit increased from £3,370,000 in 2013 to £4,051,000 in 2014....
The operating profit before exceptional costs was £170,000 (six months to 30 June 2013 - loss £291,000). There were exceptional costs incurred during the period of £73,000 (six months to 30 June 2013 - £58,000)
...
Finance costs in the six months to 30 June 2014 were £156,000 compared to £149,000 in 2013. In addition, finance income was £272,000 (six months to 30 June 2013 - £nil). This related to a fair value adjustment for foreign currency derivative contracts, effectively the partial unwinding of the charge incurred during the year ended 31 December 2013.
so, remember to adjust profits figures appropriately.
The profit before taxation for the period was £213,000 which compared to a loss of £498,000 in the six month period to 30 June 2013.Net profit for the period was £140,000 (six months to 30 June 2013 - loss £475,000).
Basic earnings per share in the six months to 30 June 2014 was 3.00p compared to a loss of 10.21p per share in the prior period.
Cash and cash equivalents were £2,124,000 at 30 June 2014 compared to an overdraft of £5,000 at 30 June 2013. Net debt reduced from £5,681,000 at 30 June 2013 to £3,804,000 at 30 June 2014. This was primarily as a result of a reduction in inventories due to the timing of shipments.
The dividend is 1.2p versus 1.15p last year.
Tandem Group runs a tight ship. Obviously, they…
