Tandem flags 'well ahead' FY

Sports and leisure equipment firm Tandem said it expects full year results to be well ahead of market expectations and will pay an interim dividend.The group said demand for its bikes remains strong with orders for bicycles, accessories and its toy businesses continuing to grow. "Increasing demand for bicycles, particularly the flagship brands of Claud Butler and Dawes, is encouraging," the group said in a statement. Revenue from its Dawes cycle business showed exceptional growth, well ahead of market performance, it added.Tandem said for the six-month period ended 31 July 2010 turnover was around £19m compared with £18.9m in the prior period. It expects first half pretax profit to be improved on last year's figure of £547,000.