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TND Tandem Group Plc

225.00
0.00 (0.00%)
Last Updated: 07:45:46
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Tandem Group Plc TND London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 225.00 07:45:46
Open Price Low Price High Price Close Price Previous Close
225.00 225.00 225.00 225.00
more quote information »
Industry Sector
LEISURE GOODS

Tandem TND Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
27/03/2023FinalGBP0.065711/05/202312/05/202306/07/2023
15/09/2022InterimGBP0.034306/10/202207/10/202215/11/2022
28/03/2022FinalGBP0.065712/05/202213/05/202230/06/2022
14/09/2021InterimGBP0.034307/10/202108/10/202115/11/2021
25/03/2021FinalGBP0.05513/05/202114/05/202101/07/2021
22/09/2020InterimGBP0.031208/10/202009/10/202010/11/2020
26/03/2020SpecialGBP0.0214/05/202015/05/202002/07/2020
26/03/2020FinalGBP0.030414/05/202015/05/202002/07/2020
30/09/2019InterimGBP0.015610/10/201911/10/201911/11/2019
10/04/2019FinalGBP0.028916/05/201917/05/201903/07/2019

Top Dividend Posts

Top Posts
Posted at 01/2/2024 12:54 by davidosh
amt...They are forecasting a 4.5p dividend to be paid next year
Posted at 01/2/2024 11:26 by amt
I have read the note several times and can't see any note about a dividend.
They want to make some acquisitions so surely that's the priority.
Posted at 01/2/2024 09:52 by castleford tiger
its showing in the note produced today ( dividend)
Posted at 01/2/2024 08:39 by amt
I hope so , but I can't see a dividend for a few years. They need to pay off debt and build 2 or 3 million of working capital and a cash reserve of a further 2 or 3 million.
Posted at 01/2/2024 08:32 by castleford tiger
I think Peter has done a good job here in very difficult times.

As we fill the space and sales continue to grow during 2024 i would not be surprised to see sales increase about the 20% target.
We should get back to earnings and a dividend to look forward to.

Costs for buildings are still increasing so that asset will go stronger.

Surprised shares not moved up

tiger
Posted at 13/12/2023 13:15 by castleford tiger
The new business that has been won will mean that we should make a net profit next year.
I think they will maintain a small dividend of say 3p

The total debt is probably under 4m so this is not a heavily geared company.

Whist the figures are bloody awful i think we have reached a low point in sales and profit/loss.

Peter has a good grip on this and he will be across the cost base.

Once stock has been sold these companies will have to come for more in 2024.

Its a long haul ,and tbh i wish we could take it off market especially at this level.
AMT
Yes i remember the caution you expressed and you were right.

These things go in cycles and i think a firm floor has now been set.

At least the building is going up in value as costs in construction continue to increase at around 10% pa

tiger
Posted at 18/11/2023 12:20 by darrin1471
Moathunter, Its was interesting to read your thoughts. I did read your post several times.
The consolidation of the rented warehouses onto a single site was planned pre covid and makes financial sense. Renting out part of the new warehouse(I assume short term) indicates a turnaround in volumes should not be expected anytime soon.
Bike sales were less than 19% of revenue in 2022, 25% in 2021 and 31% in 2020. This is adult's and children's bikes. I would agree that adult bikes in the price point TND sell too is going to be a long road to partial recovery. Children's bikes are different as they grow out of them every few years.
I don't see much evidence of TND overstocking post covid and they already have a broad range of product that all did well during lockdown. It would be expensive to expand into new sectors already served by other importers. eMobility is a good long term area for organic growth.
Currys Nordic business has been hurt by a similar phenomenon where consumer electronics did well during lockdown and exceptional profits were made. Smaller competitors used the profits to expand inventory to gain market share just as demand started to weaken and the cost of financing inventory rocketed. The resulting market wide stock clearance resulted in unprofitable sales and the closure of competitors.
With hindsight it is easy to see predict the future. Anybody able to predict the future will do well when picking shares.
I hold no position in TND.
Posted at 18/11/2023 01:14 by hpcg
Moathunter - 5719, well written. The 5 year chart says it all. I took this off my watchlist a long time ago, but I find it is worthwhile and low overhead to monitor this board. In the circumstances there is investor interest in TND other companies will do much better, so it's a good sentiment indicator. Unless it has severe financial difficulties in which case it loses that signalling capacity.
Posted at 17/11/2023 15:33 by my retirement fund
I've removed TND from my long term following watch list. Frankly I'm sick of reading about it. Good fortune!
Posted at 16/11/2023 09:54 by moathunter
Just a few thoughts:
A one sentence summary of TND could be "the moons aligned for TND during a once in 100 year social experiment (lockdown) which caused toys, leisure goods, gardening equipment and bicycle sales to skyrocket; they greatly expanded warehousing and onshoring(!).... to now realise they'll be under-utilising warehousing and so renting out (and other indicators of struggle)."
Assets are only worth the cash flows they can generate (or their market resale value).

One third of TND's revenue- bike sales- is likely to remain very low for 4+ years:
## it's a narrative fallacy to think 'the survivors in the bike industry will do well.' The bike industry is very fragmented, especially at the distributor and retailer end with many competitors. This fragmentation means even if 30% of competitors go under, the survivors will at best have proportionate uplift in sales but it will still be a small uplift because of the fragmentation.
More likely, bike sales will be subdued for 5+ years and when they do pick up, low entry barriers (causing industry fragmentation) mean new rivals will quickly enter in 2028.

## Second reason bike sales (and extending to some other sport and leisure- so around 70% of TND revenue!!) will remain very low for 4+ years is down to consumers. Covid saw around 5-7 years of normal bike sales time-shifted squeezed into just 1-2 years, as masses of people got outdoors and stimulus handouts and forced saving enabled spending on hobbies.
But there is only so much space in the garage for bikes, the majority only have need for one bike, a majority never touch their bike now, most bike owners keep the bike for 5-15 yrs... so the whole bike ecosystem is now stuffed full of bikes (channel-stuffing manufacturers, distributors unable to offlosd stock to retailers who now don't want orders (or gone under), second hand markets awash with bikes, garages and flats full of bikes (and same with sport and leisure goods for TND).
I've 2 decades road & MTB cycling experience, so know a little about the market and consumer.

So it's staggering that TND and the cycle industry at large never thought "our industry has constrained supply and a massive surge in demand with Covid... let's *not* place orders as though this is the new normal, projecting it into the future.
Instead, lets counter-intuitively place orders and manufacture at slightly below pre-Covid levels, because the micro-economics of each individual consumer means we won't see normal sales levels for some years now. And instead, we have to find alternative revenue sources to fill this cycle (and sports leisure) void."

Instead, TND just like everyone else in 2020/21/22 expanded their cycle and sports product range, ramped up digital marketing and management systems and doubled warehouse capacity...and now cannot receive the manufactured goods and don't have the orders they hoped for and instead resorting to renting warehousing- well, that's the alternate revenue source to fill the cycle and sport void!!

TND have optimised their business for a demand 50% larger (50% higher sales than £27m), and so the previously touted cost savings from developments in 2020/21/22 will prove illusory, as they're now counteracted by under-utilisation (of staff, of systems, of storage, of cost per product line, of cost per retail and manufacturer relationships).
Cue 'rationalisation/ streamlining' of all these areas next "to align to the new market environment" in 2023/24.
Crazy.

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