Tandem Group slips on FY revenue fall

Tandem

01/02/2023 09:39

** Shares of Tandem Group  TND.L  down 4.5% at 262.5p 
    ** Recreational products maker and distributor posts FY rev
of 26.7 million pounds ($32.90 million) down 35% y-o-y
    ** Sales in toys, sports and leisure segment down 11% for
the year, bicycles sales down 35% against strong comparator
    ** Adds 2023 has begun slowly for the group as consumers
remain cautious with their purchasing, however, sees 8%-12%
y-o-y rev growth in FY23
    ** Including session's losses, stock up ~4% so far this
year; had fallen nearly 55% in 2022     
($1 = 0.8115 pounds)
 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))