UK's Tandem H1 revenue rises on strength in Bikes, Home & Garden categories
UK's Tandem H1 revenue rises on strength in Bikes, Home & Garden categories
Overview
UK sports and leisure equipment maker's H1 revenue rose 6.7% yr/yr, returning to profitability
Gross margin improved to 33.3%, driven by new products and favorable currency movements
Company expects full-year trading in line with expectations, intends to pay dividend if achieved
Outlook
Tandem expects full-year results to be in line with market expectations
Company says economic and consumer environment remains uncertain
Tandem intends to declare a dividend if full-year expectations are met
Result Drivers
PRODUCT MIX AND NEW LAUNCHES - Gross margin improvement attributed to new products, category diversification and currency movements
CATEGORY PERFORMANCE - Strong growth in Bikes and Home & Garden offset weaker Toy, Sports & Leisure and Golf segments
COST CONTROL - Disciplined cost management and inventory optimisation supported profitability
Company press release: ID:nRSY2348Wa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 11.9 mln |
|
H1 Gross Profit |
| GBP 4 mln |
|
H1 Pretax Profit |
| GBP 70,000 |
|
Reuters Recommended Reads
Sept 24 - UK retailers report sales drop, biggest cutback in orders on record: CBI
Sept 23 - JD Sports first-half profit hit by North American weakness
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)