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Cycle maker Tandem pedals to H1 loss as markets remain weak

20th September 2013

The Dawes Sportif SL produced by Tandem Group

The Dawes Sportif SL produced by Tandem Group

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...

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