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I don, t think tandem has reached bottom yet very disappointed results,
Would have been nice to see expectations beaten following past performances, particularly given the wider sector data showing a sharper rebound through the year. A must-try-harder school report feels fair!
This looks to have livened up since last update. Decent daily volumes by usual standards of this share and how illiquid it is, seems to have a consistent buyer now. Price could still double and only just be on a par with NAV, leaving future profits still effectively free.
Good to see results in line with expectations and with no more surprises. Overall bottom line pretty decent going considering revenue drop last year, seems they've got a handle on costs. The financing facility being renewed for 5 years removes a huge amount of uncertainty and HSBC wouldn't have renewed/consolidated credit if it was a true basket case.
Most promising is the outlook implying return to profit this year. Do just wish they'd stop blaming the weather. Otherwise fwiw I'm buying here, no brainer imo when it's priced at less than half net asset value.
I hope we have a good range of dartboards in the games section.
Tandem shares should rise in December they have some great gadgets for Xmas.
To clarify I meant the comparison being that prior half year (01/07/22 - 31/12/22) versus period just reported (01/01/23 - 30/06/23). Them saying forex going against them in latter period stands out. Possible Tandem tried to hedge with exchanges at the lows, but that in itself would have been a bad call they couldn't really just blame on the market. Always a bit wary of companies always blaming external factors year after year.
Having said all that by balance sheet reckon this is now the cheapest solvent retailer listed on whole LSE. Not sure if it's large enough for private equity to be bothered making an offer for but chance someone will spot value here.
To be fair 404 - incompetent Liz became PM on 6th September 2022. Way after the comparative period that ended 30th June. They gambled badly no credibility issues.
To late for me as I'm well under water but as you say fantastic entry point as net assets are 2.5 fold higher than market value. Thats really unusual.
Also not convinced about blaming profit fall on foreign exchange movements. In the prior comparable half year sterling was way down via Truss and co, so if anything it should have been a tailwind this year. It's only post period it's started to stall again. ABF's recent results for example cited forex as a benefit contributing to their increased margins in the period.
Excuses that stretch credibility aside the company is crazy cheap at this level.
I can't see how the weather can be blamed for results up to 30th June. It was the hottest June on record, following a warm spring.
Hope the Barbie bounce kicks in for the second half of the year.
Price to net assets ratio is 0.6.
No goodwill or intangibles in their and all properties are owned.
Yes Terry. However they have no debt significant cash, declining overheads and a super strong balance sheet.
It will no doubt fall but pretty good recovery play.
Please can anybody tell what is going on?
2024 eps broker consensus forecast of 24p/ share.
What is going on this share is on a crash dive!
Analysis of Tandem Group : https://www.youtube.com/watch?v=BFksHbmY4Ik
14 or so single digit trades yesterday.
Really unusual for this share.
With steep rise over last few weeks does feel like something is affòot
Following the transactions described above, Mr. Grant is now beneficially interested in 285,000 Ordinary Shares, representing approximately 5.2% of the Company's issued ordinary share capital.
The shares are impossible to buy in any amount. Trading well below NAV and a revaluation set on the property for early 2023.
Northants closing which will trim costs and a reduction in external storage again that will add to the bottom line.
The new retail store looks amazing and opens next week.
Freight rates back to old values so 2023 should see margins improve.
Peter has a strong grip on costs and will deliver going forward.
2023 will not be easy but TND is well placed to deliver a much improved result.
The SP is on its bike... Something is going on...
Hi Beza seems reasonable at £900k profit.
Absolutely no risk of company going bust
Hi Banbury, what do you have pencilled in here for full year eps? My ‘back of a fag packet’ estimate is something just under 18p/p/share.
Thanks Beza - I of course meant a higher buy in price.
Yes this one's off the radar very few trades
Morning. Well if you bought 50% lower than todays price I’d say that’s a ‘nice problem to have’! The NAV and low debt, especially when compared against the Market Cap is very good. I was expecting more price movement than this to be honest.
Beza - only you and i here.
This one looks safe but a real slow burner.
I like
- net assets up by 300k in period
- excluding intangibles net assets £18.5m well above market cap
- sales in six months £2.15m a month. July and August £2.55m per month probably seasonal.
Nothing spectacular but safe - problem is my buy in price 50% lower and dont know whether to stick or twist