UK's Tandem H1 revenue rises on strength in Bikes, Home & Garden categories

By Reuters News


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

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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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