Brief: Tandem Sees FY23 Sales To Reduce Between 11 And 13% Against Market Expectations

Tandem

20/09/2023 07:45

Sept 20 (Reuters) - Tandem Group PLC  TND.L :
    * H1 REVENUE FELL 24 PERCENT TO 9.8 MILLION STG
    * H1 GROSS PROFIT FELL 37 PERCENT TO 2.5 MILLION STG
    * ANTICIPATE GROUP'S SALES FOR FY23 FULL YEAR WILL REDUCE
BETWEEN
11 AND 13% AGAINST MARKET EXPECTATIONS
    * ANTICIPATE GROUP WILL BE APPROXIMATELY BREAK-EVEN AT AN
UNDERLYING PROFIT BEFORE TAX (PBT) LEVEL FOR FY23
    * STUBBORNLY HIGH INFLATION COUPLED WITH PERSISTENT
INCREASES IN
INTEREST RATES DIRECTLY IMPACTED ON CONSUMERS' DISPOSABLE
INCOME, LEADING TO REDUCED SPENDING ACROSS CERTAIN CATEGORIES

Source text for Eikon:  ID:nRST9882Ma 
Further company coverage:  TND.L 

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