Tandem Group PLC - Solihull, England-based sports product distributor - Posts a decline of 33% in revenue to GBP12.9 million in the six months to June 30 from GBP19.3 million a year earlier. Pretax profit plummets to GBP307,000 from GBP1.9 million, as exceptional costs amounted to GBP172,000 compared to none a year ago. Operating profit slumps to GBP600,000 from GBP2.0 million a year earlier. Cash amounts to GBP1.5 million as at June 30.
Looking ahead, Tandem warns the uncertainty of the remainder of 2022 outlook, but it is well-positioned to drive growth. Declares an interim dividend of 3.43 pence per share, unchanged from last year.
Current stock price: 284.00 pence, down 5.3% on Thursday
12-month change: down 53%
By Xindi Wei; xindiwei@alliancenews.com
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Tandem Group (TND)