Tandem Share Discussion Threads

[greengiant] 25/5/2010 11:52

This $ rate is sure going to hurt Companies who outsource a lot to China. What people do not realise about TND is that it has a natural hedge in place in that the vast majority of MV business is conducted in $'s.

Still tho' if the £ gets any weaker, then it will hurt TND

gg

[18bt] 21/5/2010 09:48

I've just voted on the AGM resolutions using my new TDW facility to do so. Just for the record I have voted agains the reappointment of Simon Morris on the grounds that the company doesn't need another accountant. Have voted for Andy Bestwick.

[davidosh] 13/5/2010 12:08

Here are the latest voucher codes for Evans Cycles....



They have a good deal on a Claude Butler 2009 Alpina and a few reduced already if there is then 30% off everything !?

[greengiant] 13/5/2010 11:37

Is it The Telegraph that is promoting 30% off all bike purchases at Evans this weekend?

gg

[davidosh] 13/5/2010 11:26

I could not agree more. Plus new directors and better communications with shareholders. A nice hot Summer and everyone thinking bike rides is all we need next...

[greengiant] 13/5/2010 11:20

Crazy valuation - just picked up another 20k.

The company is valued at £5m.
It has £1,2m in cash
Meaning that it's true value is £3.8m

For this you get £1m+ per year in profits,

Daft

gg

[davidosh] 05/5/2010 15:27

balcony....thanks but it is the investor presentation I am awaiting a confirmed date for. The AGM date was given with the results but the presentation will be the first one of its kind by Tandem and they have promised one as part of the push for better investor communication.

[balcony] 05/5/2010 14:40

DD-The AGM is on 21st june

[davidosh] 05/5/2010 12:12

The company have agreed to do an investor presentation in London alongside the AGM in Birmingham so hopefully I will have a date and time for that event quite soon.

[balcony] 05/5/2010 11:23

If it falls much further i will be tempted to add.

[scburbs] 28/4/2010 17:20

Strong cashflow, but profitability in the bike division was very poor. Given £326k was reversing in H2 on FX contracts then the actual profitability in H2 seems to be £79k. I was expecting much more for this division and not what you want to see when turnover is up 11%.

"By contrast, the bicycle business, with our well established brands, provides a platform for steady progression."

It may well provide a platform for steady progression, but they are not achieving it.

Cheap, but not ludicrously cheap given the weak outlook statement.

[grahamty] 28/4/2010 09:33

Andrew, not greatly different in presentational style and lots of sucking in of teeth over prospects despite revenue up so much in first few months. Almost certainly ( as they have in the past) the Annual Report will be an exact copy of this statement, so no more gloss there. Need answers on pension problems and how to sort out an historic legacy.

These are good, unexciting, cautious, low key............typical Tandem

[greengiant] 28/4/2010 08:01

Sorry - really busy for the next few days so only had a quick scan through the Finals, I am positive and commend them on the decidedly better presentation of their financial accounts and commentary. Let us remember where we are starting from.

With regards to the results, I am a little bit disappointed with the second half performance. I need to understand a bit more about what happened to the For-ex credit. There was also a marked change in the tax charge. But overall a very good, solid performance.

The Balance Sheet continues to strengthen - net cash is now around £1.2m, despite buying back £179k worth of its shares.

So you have a company worth £6m, with £1.2m cash making a Net Profit of £1m per year (despite such adverse movements in $ and freight costs). Cheap to me, but not a share which should be looked at on a short term basis.

The Board changes are positive, I am relaxed about no dividend (yet) I think the new team (Execs and non execs) need time to formulate a strategy and execute that strategy and I would hope a dividend yield would form part of that strategy in the coming years.

Some negatives, there is still a fair bit of uncertainty, but I would expect nothing else - that uncertainty applies to almost all companies in this sector.

gg

[nickcduk] 28/4/2010 07:48

What prompted me to sell out a few weeks to Andrew was that whatever progress they made was always dwarfed by the pension issue. Over the last year net assets have barely risen because the pension deficit took up nearly all the years profits. Its been the same story for the last few years and no doubt it will continue going forward.

[watchout2] 28/4/2010 07:42

Why they cannot pay a dividend of 3-5p beats me ?

If they want to attract new investors then at least offer some
kind of yield.

[18bt] 28/4/2010 07:14

Final results out: key thing is that this sits on a PE of just 6x and with NAV of £124p / share. Small increase in shareholder communication, but really nothing on future strategy other than acquisitions being part of the picture. Decent performance - particularly in bikes- but still a lot to do to get new shareholders buying in.

[davidosh] 22/4/2010 19:15

Indeed gg...this is a new all communicating Tandem.

[greengiant] 22/4/2010 17:27

Nice to see the company issuing an RNS with expected date of results

gg

[greengiant] 21/4/2010 19:09

grahamty,

My e-mail is [e-mail]

Always happy to speak and share views

gg

[grahamty] 21/4/2010 18:36

gg

How would I contact you ? I have been a shareholder here for a while and have met the management. I am interested in what you are up to.

[greengiant] 15/4/2010 08:28

He is and it is good to see the company use its NED's to plug gaps in the company's areas of expertise. After all this is what NED's should be used for - which makes the first appointment all so very confusing. Now all they need is to have someone who has a strategic mindset and can look at the strategic positioning of the company.

gg

[18bt] 14/4/2010 15:32

That seems much more sensible assuming that he's the Andy Bestwick who was MD of Gardman the garden products manufacturer, now owned by Barclays Private Equity

[greengiant] 14/4/2010 15:09

Now this is a good appointment

gg

[strollingmolby] 14/4/2010 14:34

Board Change

The Board of Tandem Group plc ("Tandem" or the "Company"), manufacturer and
distributor of sports and leisure products, is pleased to announce the
appointment of Andy Bestwick as a non-executive director of the Company with
immediate effect.

Andy has considerable experience in product development, sourcing and supply
chain management, especially from Asia, and selling to national and independent retailers.

Commenting on the appointment, Graham Waldron, Chairman, said: "Andy is another excellent addition to the Board, bringing us experience in areas of development, sourcing and sales which are very much allied to those of Tandem."

[greengiant] 14/4/2010 10:24

grahamty,

Yes I met Simon. It is like we said, the company is aware of PI's issues and the company will act on all of our concerns, but we are going to have to give them time to do so.

As for the accounts, I am sure that they will be out soon, after all last years were released at the beginning of May. I would rather the company spent this time writing a decent commentary about the business than rush to get the accounts out. Who knows maybe this time we will get an in-depth summary about the business with the results this year.

gg