REG - Tandem Grp PLC - AGM Trading Statement

TandemAnnouncement

Tue 07:00

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RNS Number : 0594O  Tandem Group PLC  24 June 2025

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

 

24 June 2025

Tandem Group plc

(the 'Group' or the 'Company')

AGM Trading Statement

 

Tandem Group plc (AIM: TND), designers, developers, distributors and retailers
of sports, leisure and mobility equipment, announces that at the Annual
General Meeting of the Company to be held today at 11.00 am the Company's
Chairman, Steve Grant, will make the following statement:

We are pleased to report that Tandem remains on track to meet market
expectations for the financial year ending 31 December 2025.

At 31 May 2025, our Group sales position overall is ahead of the prior year by
15% and we have been focussing heavily on introducing newness to our product
range, ensuring that our offerings align with current trends and maintain a
high level of innovation.

With the UK enjoying record sunshine this spring, favourable weather has
provided a welcome boost for our seasonally dependent products. However, we
continue to operate in what remains a challenging environment shaped by
ongoing inflationary pressures, rising employment costs and fluctuating
consumer confidence. Despite this backdrop, the Group's resilience, and our
focus on execution, positions us well for the remainder of the current year
and beyond.

In our Toys, Sports, and Leisure division we are currently tracking 6% behind
the same period last year. This is in line with Board expectations due to the
shift in phasing towards the second half of the year, where we anticipate
stronger FOB results. Looking ahead to the rest of 2025, we have a robust
pipeline of brands and licenses planned.

Our Bikes division has delivered impressive growth, outperforming the market
across each of the pedal, electric, and junior categories. Sales are up 52%
year to date. Our newness and innovation across all categories have been
instrumental in driving an excellent performance year to date.

We are looking forward to the upcoming launch of the new HOY children's bike
range, developed in collaboration with cycling legend Sir Chris Hoy. This
exciting new range, consisting of eight models, is set to launch in early
September 2025, with dealers already placing an encouraging level of
pre-orders.

In the Golf division, there has been a change in our sales pattern versus last
year. Sales year to date are 6% behind the same period last year. This is
mainly due to our Freight-On-Board (FOB) order phasing which has transitioned
towards summer, driven by the introduction of our new 2025 range and is
therefore again in line with Board expectations.

Our Home and Garden division has seen a sales increase of 14%, with growth
supported by the introduction of new categories including outdoor heating,
outdoor rugs, internal storage, home décor and the driest spring in over a
century, which has positively impacted demand. Looking ahead to the second
half of the year, this division will also launch additional innovative and
on-trend products to further strengthen our offering.

 

Group Outlook

Refreshment and elevation of the Group's product range is a continuous process
that remains essential to the Company's long-term success. We have continued
to keep tight control of our costs, whilst developing new sales channels and
forging new relationships with customers.

Conditions remain challenging but we are working closely with our European and
Asian suppliers to improve our competitiveness and introducing more innovation
across our ranges.

With our improved product range and cost control enabling keen pricing, we are
looking to grow our sales to new UK customers. The Group also now has
dedicated resource to grow sales into Europe.

In summary, the Board remains confident in Tandem's ability to meet market
expectations for the current year. We are focussed on improving returns and on
recommencing the payment of dividends as soon as trading performance and
cashflow permits.

 

 Enquiries:

Tandem Group plc

Peter Kimberley, Chief Executive

Gurvinder Kaur, Company Secretary

Telephone 0121 748 8000

 

Nominated Adviser

Cavendish Capital Markets Limited (Nominated Adviser and Broker)

Ben Jeynes / Callum Davidson - Corporate Finance

Michael Johnson / Jamie Anderson - Sales and Equity Capital Markets

Telephone 020 7220 0500

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