Cycle maker Tandem pedals to H1 loss as markets remain weak

BIRMINGHAM-based cycle manufacturer Tandem has announced half-year losses as a result of business rationalisation and costs associated with the purchase of its premises.

The net loss for the six months to the end of June was £475,000, which compared to a profit of £184,000 in the same period last year. Group revenue reduced from £14,372,000 to £11,251,000 over the same period.

The purchase of its Castle Bromwich premises was completed in February in a deal worth £2.6m. The transaction utilised more than ... For the full story register now for free or login below...