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TND - Tandem News Story

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Last Trade - 07/08/20

Sector
Consumer Cyclicals
Size
Micro Cap
Market Cap £18.4m
Enterprise Value £16.5m
Revenue £38.8m
Position in Universe 1393rd / 1819

BRIEF-Tandem Group Plc Says Revenue For Full Year Ended 31 December 2019 Increased By Nearly 20% To £38.8 Million

Mon 10th February, 2020 8:22am
Feb 10 (Reuters) - Tandem Group PLC  TND.L :
    * TANDEM GROUP PLC- TRADING UPDATE AND BOARD CHANGES
    * TANDEM GROUP- REVENUE IN H1 INCREASED BY APPROXIMATELY 27%
AS A
RESULT OF STRONG PERFORMANCES FROM BOTH LICENSED AND OWN BRAND
PROPERTIES
    * TANDEM GROUP PLC- GROUP REVENUE FOR FULL YEAR ENDED 31
DECEMBER
2019 INCREASED BY NEARLY 20% TO £38.8 MILLION
    * TANDEM GROUP PLC- FY GROUP PROFIT BEFORE TAX IS EXPECTED
TO BE
WELL AHEAD OF PRIOR YEAR
    * TANDEM GROUP PLC- FY REVENUE FROM TOYS BUSINESS WAS
CONSIDERABLY
AHEAD OF PRIOR YEAR
    * TANDEM GROUP PLC- OVERALL TOTAL REVENUE FROM BICYCLE
BUSINESSES
WAS DOWN IN 2019 COMPARED TO 2018
    * TANDEM GROUP PLC- FY REVENUE FROM OUR SQUISH BICYCLE RANGE
SOLD
TO INDEPENDENT BICYCLE DEALERS GREW BY 33% IN YEAR
    * TANDEM GROUP PLC- FY REVENUE IN DIRECT TO CONSUMER
BUSINESS,
EXPRESSCO DIRECT, WAS SLIGHTLY BEHIND PREVIOUS YEAR
    * TANDEM GROUP-MERVYN KEENE NOTIFIED BOARD OF HIS INTENTION
TO
RETIRE AS NON-EXECUTIVE CHAIRMAN AND STEP DOWN AS A DIRECTOR
WITH EFFECT FROM 31 JULY
    * TANDEM GROUP PLC- STEVE GRANT HAS ALSO INFORMED BOARD OF
HIS
INTENTION TO STEP DOWN FROM HIS ROLE AS CEO
    * TANDEM GROUP PLC- STEVE GRANT HAS INDICATED DESIRE TO
REMAIN
WITH GROUP AND ACCORDINGLY WILL TAKE UP POSITION OF
NON-EXECUTIVE CHAIRMAN FROM 1 AUGUST
    * TANDEM GROUP PLC- JIM SHEARS, CURRENTLY GROUP FINANCE
DIRECTOR,
WILL TAKE UP POSITION OF CHIEF EXECUTIVE OFFICER
    * TANDEM GROUP-JIM SHEARS WILL ALSO BECOME JOINT MANAGING
DIRECTOR
OF CO'S TRADING SUBSIDIARY MV SPORTS & LEISURE LIMITED
    * TANDEM GROUP- CORONAVIRUS OUTBREAK IN FAR EAST APPEARS TO
BE
SIGNIFICANT THREAT, NUMBER OF FACTORIES HAVE NOT RETURNED TO
WORK AFTER CHINESE NEW YEAR
    * TANDEM GROUP PLC- RESTRICTION ON TRAVEL IMPOSED BY CHINESE
AUTHORITIES IS HINDERING MOVEMENT OF RAW MATERIALS AND LABOUR
THROUGHOUT CHINA

Source text for Eikon:  ID:nRSJ4099Ca 
Further company coverage:  TND.L 

 ((Reuters.Briefs@thomsonreuters.com;))
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