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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.
Started: winklebelly, 9 Nov 2023 11:15
Last post: marinebuoy, 4 Jan 2024 13:58
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.
Started: marinebuoy, 20 Sep 2023 10:41
Last post: 404x, 20 Sep 2023 15:23
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.
Started: winklebelly, 1 Jun 2023 09:56
Last post: winklebelly, 1 Jun 2023 09:56
Please can anybody tell what is going on?
Started: winklebelly, 22 Mar 2023 18:39
Last post: Beza, 4 Apr 2023 08:11
2024 eps broker consensus forecast of 24p/ share.
What is going on this share is on a crash dive!
Started: Rogue_rader, 7 Feb 2023 15:30
Last post: Rogue_rader, 7 Feb 2023 15:30
Analysis of Tandem Group : https://www.youtube.com/watch?v=BFksHbmY4Ik
Started: Banburyboy, 19 Nov 2022 07:58
Last post: Banburyboy, 19 Nov 2022 07:58
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
Started: Helpme01, 17 Nov 2022 08:29
Last post: Helpme01, 17 Nov 2022 08:29
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.
Started: CasTiger, 16 Nov 2022 08:07
Last post: CasTiger, 16 Nov 2022 08:07
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.
Started: marinebuoy, 23 Jun 2022 09:39
Last post: L3Trader, 15 Nov 2022 16:51
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.
Started: planetx, 30 Mar 2022 13:37
Last post: Righturn, 5 Apr 2022 11:46
Good analysis there planetx.
I am also holding but wish I had followed the director last year and sold out.
Tandem looks in a decent position long term especially as it has good diversification across its portfolio.
Bicycle market is currently terrible and super tough to navigate.
Lead-times are very long still and manufacturers like tandem have had to place big orders to secure slots, this would have been 12 - 18 months ago.
These orders are only just filtering through but there is a tidal wave of orders to follow which is going to concertina in towards mid to end of this year, now couple this with the sudden drop in demand of the past three months, rising energy and petrol and general headwinds the bicycle industry is heading into a perfect storm.
The good news is of course Tandem is cash rich and can ride out the storm and maybe find opportunity out of adversity as leveraged rival brands fall over.
E-scooters are not going to save them, this market has collapsed. Zyro-Fisher one of the largest / best cycling distributors have just discontinued all their e-scooter ranges due to poor sales and concerns over liability issues. Selling scooters that are banned on the road that then cause injury or death by the user, well its not hard to see how the manufacturer / retailer get sucked into this.Tandem will catch a cold on e-scooters that is for sure.
Tanden is a good long term hold but is going to be in the eye of a storm this year and a lot this year is going to depend on how they can manage their order book and stock as it arrives into a brutal marketplace.
If they can manage that, sit back a touch, sit on cash and have the balls to make a positive out of a negative they could play a smart game .
I'm holding but think there could be further to fall even if the shares look stonking value.
Started: Banburyboy, 31 Jan 2022 09:02
Last post: Righturn, 29 Mar 2022 05:03
Now we know why the director was selling.
Thirty one trades by 10am that's a weeks worth in two hours. Definitely something going on.
This has not moved.
Market cap £25m. Net assets 15m no debt £5m cash.
Sales £41m plus 10%
Profit expected to be significantly ahead of last year which was £4.1m. And ahead of market expectations.
Expecting £5m plus profit. P.E of five.
Also expect transformational news on electronic scooter usage in March. I also think highly complementary to HFDs.
I'm buying more
Started: Banburyboy, 28 Jan 2022 15:31
Last post: Banburyboy, 28 Jan 2022 15:31
At £5.07 to buy this is at 52 week low and very attractive.
Been typing up H1 results very good Sales +14% profit +33% and cash £5.9m.
Q3 17% ahead of excellent 2020 comparative
Q4 to Nov flat on an excellent comparative.
Screaming buy based on this and links below which are detailed and valid (previous post).
Update normally early Feb on finals think this has £6.50 all over it and long term target for HFD
Started: Banburyboy, 10 Nov 2021 14:57
Last post: Banburyboy, 10 Nov 2021 14:57
I have a really modest holding and think (1)this has £10 written all over it. (2) would not be surprised to see a HFD bid after strong results today.
On H/ L today spread amazingly is only 5p 618 to sell 623 to buy. It can be as high as 40p.
Considering buying more if my CNE comes good.
Started: EV_Bull, 11 Oct 2021 15:28
Last post: EV_Bull, 11 Oct 2021 15:33
https://www.investorschronicle.co.uk/alpha/2021/10/11/a-bargain-play-on-the-e-scooter-craze/
I've been holding this for a while, very under the radar and surely will re-rate at some point towards £10/share
Todays buying seems to be triggered by this article:
https://pdfs.investorschronicle.co.uk/Simon_IC_Alpha_Report_111021_067143.pdf
Simon Thompson’s view:
It’s not often you get the opportunity to lock into a 14 per cent earnings yield when the
risk to earnings is to the upside. However, a leading UK sports, leisure and cycle product
provider offers exactly that. The group not only has orders for cycles stretching well into
the second half of next year, but offers potential to ramp up e-scooter sales if the UK
government approves their use on public roads. It looks a near racing certainty that they
will when trials complete next March. Trading on a PE ratio of seven and with the
directors recently declaring a 10 per cent half-year dividend hike, the investment risk is
skewed to the upside.
Started: W13Ken, 20 Aug 2021 09:11
Last post: W13Ken, 20 Aug 2021 09:11
"THE TANDEM GROUP
Exchange: AIM
Appealing to investors with a dividend yield of 1.54% the Tandem Group has had a rocket lit under it during the pandemic and is expanding its warehousing in a bid to accommodate its product portfolio, which in the cycling world is best known to hold the Dawes, Squish and Claud Butler labels, among others.
Having bottomed on the early pandemic scare that impacted the markets as a whole, the share price rose from £1.15 to a peak of £6.75 in the space of a year thanks to a sell-out period for its bikes. While the distributor is now planning for a deeper stock in future and has set about adding 80,000 square foot in new space, for the time being it is cautious on near-term headwinds such as stock availability and rising costs.
Like many other listed businesses in cycling, Tandem is diversified in its structure, offering everything from licensed products, through garden furniture and Golf goods. Arguably late to the electric bike party, Tandem’s Q1 e-bike revenue was up 112% this year and there appears to be plenty of scope for that growth to continue."
https://cyclingindustry.news/cycling-stock-market-investing/
Started: Monkeyalpha213, 4 Aug 2021 12:16
Last post: Monkeyalpha213, 4 Aug 2021 12:16
I have found some old Tandem shares dating from 2009. Can any one give me an idea of whether there have been consolidations/splits over that time period. It would be good to know if they are actually worth anything or not today. Thank you in advance.
Started: W13Ken, 1 Jun 2021 01:23
Last post: Righturn, 16 Jun 2021 13:11
No idea why but it is defintely not a good sign and you are right to be cautious.
They are down 20p today.
Righturn, see that Stephen Grant has been a regular seller in the past couple of months. Any idea why? Divorce, needs the dosh, knows results aren't very good?
Am impressed that Tiger likes these and would like to buy in but my middle name is 'cautious'.
That is good news but Stephen Grant selling 15,000 last week must be a cause for concern.
That sounds very good but Stephen Grant selling 15,000 last week must be of some concern.
Interesting update from Simply Wall Street today. They are careful to say that they never give out direct tips but they are strongly hinting at one here with this title. On their Valuation page it suggests that a fair price based on their Discounted Cash Flow model would be £8.65.
Tandem Group (LON:TND) Might Have The Makings Of A Multi-Bagger
"If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So on that note, Tandem Group (LON:TND) looks quite promising in regards to its trends of return on capital."
https://simplywall.st/stocks/gb/consumer-durables/aim-tnd/tandem-group-shares/news/tandem-group-lontnd-might-have-the-makings-of-a-multi-bagger
Started: andyRobinson, 11 May 2021 21:22
Last post: andyRobinson, 11 May 2021 21:22
Last year TND made 68p.
The company has loads of cash/6m plus.
the shares at 621p to buy are 9x last years numbers.
Early this year sales were up 90%.
I am going for a 50% increase in first half to 33p eps. The full year well who knows.
The shares have £10 all over them and are getting ready for the next leg up.
DYOR as i own the stock
tiger
Started: Mossy243, 18 Mar 2021 10:38
Last post: lemonade311, 25 Mar 2021 09:54
Look back for an RNS about the acquisition or ask management themselves.
They will definitely be worth something as Tandem is doing well.
You’ll find your holding was reduced dramatically, I can’t remember the ratio on tnd shares against mv sport shares
Hi, I have quite a few shares in MV Sports Group purchased in 2000. I’m trying to find out what they are worth now, assuming they are still valid after Tandem acquisition in 2003. 240 000 MVS shares in total. TIA
Started: ErFreh, 9 Feb 2021 14:38
Last post: ErFreh, 9 Feb 2021 14:38
great company, future is bright
Started: ErFreh, 6 Feb 2021 10:58
Last post: ErFreh, 6 Feb 2021 10:58
Last post: andyRobinson, 13 Nov 2020 21:36
Good time over 10% now and it’s only just begun
New holding, bought in today,
Started: Libero, 7 Aug 2020 12:44
Last post: andyRobinson, 13 Nov 2020 21:35
So we pass 500p don’t miss more.
Don’t miss it again !!
We get close to 60 p eps with no increase in 2 nd half!!
I expect there to be an increase as more sales are direct to consumer!
Expect very exciting news soon.
So let’s assume 60 p eps x 10 gives 600 p
Less net cash 120 p so 720 is a fair target.
Growth again next year and more direct sales I am going for eps of 100 p in 22 and a target price of £10.00 .
Exciting times ahead. I remain a buyer
AndyRobinson, You were spot on, and I was miles off with my H1 12-15p EPS estimate.
In fact if you add the EPS amounts ofr H2 2019 + H1 2020 you get 60.1p - bang on your figure.
I should have gone with my gut and bought in here sub 340p. I would've been 35% up but that's what you get for misjudging a share completely. Seemingly because I didn't get the significance of the Disney deals they now have!
Current valuation @ £4.60 per share / £23m Market Cap looks undervalued.
- P/E of 7.5 ish
- This drops down to less than 4.5 once you factor in the assets, which work out at £3 / £2per share (incl and excl intangibles).
There's unlikely to be any newsflow for 5 months, which is likely to see the share price slide downwards, so I shall keep my eyes peeled on this in the hope of a sub 400p entry point
Well done Andy! I hope to join you eventually :)
And net cash 100p a share
Looks like I underestimated at 20 p
Numbers were eps 22.7
Now can you see my 50/60 p
Started: epg200, 3 Oct 2020 11:45
Last post: andyRobinson, 3 Oct 2020 17:45
Tandem design and import nearly all their products. They own many brands. They also have a division selling direct to the public and this is growing fast. There is 200 p short term and 600 p in 2 years to go at here. Profits of 5 million within 2 years is very achievable . Net cash over 6 million v market cap of 20 and current profits circa 3 possibly 4 million.
DYOR but I can’t get enough of these
I'm fairly new to this stock. Can anyone tell me what their advantage is over competitors? Thanks