Tandem Group PLC – TND – Half-year Report

Tandem Group PLC – TND – Half-year Report

The Board of Tandem Group plc (AIM: TND), designers, developers, distributors and retailers of sports, leisure and mobility equipment, announces its results for the six months to 30 June 2020.

 

Highlights

 

–     Revenue increased approximately 6% to £16,927,000 (2019 – £16,029,000)

–     Gross profit increased to £5,556,000 (2019 – £4,911,000)

–     Increase in operating profit to £1,478,000 (2019 – £580,000)

–     Profit before tax after non-underlying items was £1,409,000 (2019 – £370,000)

–     Net profit for the period was £1,141,000 (2019 – £155,000)

–     Earnings per share 22.7p (2019 – 3.1p)

–     Net assets increased to £15,266,000 (2019 – £12,446,000)

–     Cash and cash equivalents as at 30 June 2020 of £6,322,000 (2019 – £3,740,000)

 

Commenting on the results, Chairman Steve Grant stated “these are a strong set of results despite the COVID-19 challenges faced by the Group during the period, with an increase in revenue and a significant increase in profit reflecting the hard work and dedication of our loyal staff”.

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