Last checked at (Sharecast News) - Sports and mobility equipment retailer Tandem Group warned on Thursday that the Covid-19 pandemic had led to a decline in its overall order book.
Tandem said while year-to-date revenues were "slightly ahead" of the prior year, its order book was approximately 3% behind last year and now expects that group revenues will fall behind those recorded twelve months earlier as a result of a lack of national retailer orders and a limited supply of bicycles.
The AIM-listed group did note that bicycle sales had been "materially higher" - with year to date revenues 77% higher year-on-year and a forward order book "significantly higher" than last year.
Online sales were also said to be "strong" but in its national retailer business, customers continued to be "cautious".
Tandem said: "At this stage, it remains difficult to ascertain the overall impact on the full year but we will make a further update at the AGM and continue to update the market as and when we have greater visibility."
As of 1050 BST, Tandem shares had sunk 8.65% to 237.50p.
11 Mar 2021 15:53
Tandem acquires freehold land for Birmingham expansion
(Sharecast News) - Sports, leisure and mobility equipment distributor and retailer Tandem Group announced the acquisition of freehold land next to its Birmingham headquarters.
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