Tandem Share Discussion Threads

[scubadiverr] 24/2/2023 10:01

Bike sales now at a 20 year low. One would think margins will come under pressure. IMO, this doesn't look like a good place to be for at least a couple of years.https://www.forbes.com/sites/carltonreid/2023/02/21/uk-bicycle-sales-drop-to-20-year-low/?sh=6a9891f7362c

[actscap] 16/2/2023 23:35

https://www.europarl.europa.eu/news/en/press-room/20230210IPR74808/meps-say-cycling-will-help-the-eu-s-green-transitionThe European Parliament suggests boosting cycling habits and the EU's green transition through more dedicated cycling lanes, parking places for bikes, and reduced VAT.I know there are cycle to work schemes in operation in the UK but a reduction in vat would surely be a positive for TND if it were to happen here too. I'm not hopeful but we risk falling behind EU on green initiatives. This from the bicycle association from 2021....This EU move will add to the pressure on the UK Government to act on VAT. As the BA has been warning since CONEBI first flagged this issue in 2019, the UK risks falling behind our European neighbours in this significant measure to encourage active, low-carbon transport.As other sectors have also found, convincing the UK Government of the case for VAT reductions is never easy. But the BA will continue to press this case, bolstered by the success of our European colleagues at CONEBI, CIE and ECF.

[my retirement fund] 09/2/2023 12:25

Martin Fisher also resigned from Expressco Direct Limited yesterday.

As of 8th February, he no longer holds any directorships in any business.

[darrin1471] 09/2/2023 11:37

Martin Fisher was based in Northampton for 10 years according to LinkedIn. Not the best of commutes.
Expressco Direct Limited has 2 eBay shops. One selling a mobility battery and the other a range of radiator covers. Both still have Northampton contact information. A very unprofessional set up.

[davidosh] 09/2/2023 10:17

This is when he joined the board a year ago…

He has been with Expressco seven years

21 February 2022



Tandem Group plc

("Tandem" or the "Company" and together with its subsidiaries the "Group")



Directorate Change, Director/PDMR Share Dealing and Transaction in Own Shares



The Board of Tandem Group plc (AIM: TND), designers, developers and distributors of sports, leisure and mobility equipment, is pleased to announce the appointment of Martin Fisher to the Tandem board of directors as E-Commerce and Supply Chain Director with immediate effect.

Mr Fisher has served as Managing Director of Expressco Direct Limited, a subsidiary of the Company, since 2016. Prior to joining the Company Mr Fisher was Head of E-commerce at The Fitness Superstore between 2013 and 2016 having operated in E-commerce leadership roles since 2000.

[balcony] 09/2/2023 10:16

Maybe he only had a twelve month contract.

[deanowls] 09/2/2023 10:06

Another one on his bike…….

[castleford tiger] 09/2/2023 08:56

Directors come and go and I have no idea the reason for his departure.

[rcturner2] 09/2/2023 07:50

Yep another director bites the dust. Just need CT to tell us what good news that is.

At least he got thanked.

[cwa1] 09/2/2023 07:18

Abrupt but thanked for his service...

Directorate Change

The Board of Tandem Group plc (AIM: TND), designers, developers and distributors of sports, leisure and mobility equipment, announces that Martin Fisher, the Company's E-Commerce and Supply Chain Director, has left the Company and ceased to be a director of Tandem on 8 February 2023.

The Board would like to thank Martin for his service and wish him all the best for the future.

[cwa1] 01/2/2023 15:31

Excellent pullback from today's depths...so far...

[cwa1] 01/2/2023 15:31

Excellent pullback from today's depths...so far...

[davidosh] 01/2/2023 12:23

I would rather have lower revenues and better margins as my base than see revenues having to be maintained because margins are lower with both producing the same outcome.

Once the new e-mobility products boost sales with margins higher we will see the real benefit of the cost savings and efficiency

[castleford tiger] 01/2/2023 09:48

Harrogate

i agree with you.
However guidance must of been given by Peter.

Costs will be much lower in 2023 for the reasons stated in the note.
They do say guidance will be updated but they state eps based on that figure.

tiger

[harrogate] 01/2/2023 09:27

The problem with the Cenkos note and their calculation on 2023 based on what we did in 2019 is that to make £2.5m PBT in 2019 we had sales of £39m. So this year sun £30m sales. Margin needs to be pretty good and opex a lot lower to do this. Until we get clarity on cost savings etc we are in the dark. It might be fairly cheap but it might not. Thought initial mark down too harsh though

[castleford tiger] 01/2/2023 09:17

RCTurner2

Thanks for the compliment.

The note was produced by CENKOS and the figures quoted were from that note.

Remind me why you are here as clearly not a fan of the company.

best Tiger

[rcturner2] 01/2/2023 09:01

Still a massive pile of poo, despite whatever rubbish CT spouts on here.

[amt] 01/2/2023 08:40

Very reasonable given the difficult markets.

[cwa1] 01/2/2023 08:35

Snippet from this morning's Cenkos update:-

Outlook. Economic headwinds are expected to persist during FY23E. Tandem expect an improved financial performance during the year, with a target for 8-12% revenue growth (ie to c£29-30m), driven by a combination of: (i) new product launches(eg new e-bikes and new licences); and (ii) additional customer accounts (several national retailers and 80 independents were secured during H2/22E, with plenty more being targeted for FY23E).

 Valuation. In the year pre-COVID (ie FY19A), Tandem generated Adj PAT of c£2.5m, and if this represents ‘normalised217; earnings (arguably a conservative assumption, given the progress the company has made in securing new licences, launching new products, increasing efficiencies eg through the Birmingham warehouse expansion), then this would imply a ‘normalised217; Adj P/E of just 6x, indicating the inherent value in the business. We reaffirm our Buy rating.

[castleford tiger] 01/2/2023 07:57

Note out for what looks like 2022 results.

Headlines

PBT circa 900k no tax charge

Revenue 27m

very strong end to the year on a LFL basis
up between 25% and 90%
Dividend 10.5p v EPS circa 22p
net debt 2.7m
no revaluation to site as its not finished.
NAV is 23.1 m
cash 2.7m
closing net debt 2.7m

warehouse completes in a month.
So the two other sites will close /end of lease
Container prices back at normal.

no new forecasts for current year but suggestion 2.5m profit after tax
so EPS 40/50p area

Pretty confident with reduction in costs and increased sales we can be around this giving a forward p/e of 6
Far too low for such a strong asset backed business.

tiger

[castleford tiger] 24/1/2023 17:02

Indonews

I am waiting for the day when you come and give us some good news!

Having met Peter he seems a good leader.

tiger

[indonews] 24/1/2023 10:28

Trust me, bad move, no ones buying fixes and these are high end/overpriced.
Note all the staff that have left since PK has joined, not good.
I give him a year.

[actscap] 20/1/2023 21:31

https://bikebiz.com/tandem-group-cycles-to-distribute-urban-bike-brand-quella/Tandem Group Cycles has announced a partnership agreement with Quella Bikes to become theexclusive national distributor for the urban bike brand.

[castleford tiger] 17/1/2023 18:20

end of January approx