Birmingham’s Tandem Group returns to profit as bike and garden sales surge

Castle Bromwich-based Tandem Group has returned to first-half profitability, with revenue up 6.7% to £11.9m for the six months to 30 June, driven by strong growth in its bikes and home and garden categories.

Gross profit rose 15% to £4.0m, with gross margin improving to 33.3% from 30.9%, largely due to new products, categories and currency movements.

Adjusted EBITDA came in at £374,000, up from £81,000 the previous year, while profit before taxation was £70,000, against a loss of Â... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...