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:

Key Details

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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.)