Tandem hopes the Force is with it as it looks to Star Wars for growth
CYCLING, leisure and mobility products supplier Tandem has an increase in half-year revenue and profits, aided by recent acquisitions.
For the six months to June 30, 2015 group revenue increased to £15,585,000 (H1 2014: £13,735,000). Gross profit was £5,052,000 (H1 2104: £4,051,000). The firm said the acquisition of mobility scooter supplier Pro Rider had been a key move in helping to increase growth.
Looking ahead, it said group revenue for the 38 week period to September 18 was also ahead of last year although bicycle revenues were flat at £11.7m against £11.6m last year.
“Both independent cycle dealers and national retailers have recently reported challenging market conditions, particularly in the leisure cycling market,” it said.
“We have addressed some of the challenges by relocating the sales and administrative functions in our Claud Butler business to our head office in Castle Bromwich.”
Sports, leisure and toys revenue for the 38 week period to September 18 was approximately £12.9m compared to £11m last year. Autumn/Winter sales have started strongly as national retailers stock up for the Christmas period, it said.
One strong factor on sales could be the launch of the new Star Wars film in December.
“We anticipate that this will be a strong licence for the group. In addition, new licences including Teletubbies, Shopkins and Finding Dory are expected to contribute to 2016 revenues,” it added.
