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TND Tandem Group Plc

0.00 (0.0%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tandem Group Plc LSE:TND London Ordinary Share GB00B460T373 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 140.00 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
130.00 150.00 140.00 140.00 140.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Motorcycles,bicycles & Parts 26.68M 674k 0.1233 11.35 7.65M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 140.00 GBX

Tandem (TND) Latest News

Tandem (TND) Discussions and Chat

Tandem Forums and Chat

Date Time Title Posts
29/11/202322:37Tandem Thread with Charts5,726
23/6/202212:32shocker - 2 years of pain to work through -
11/9/202010:01Tandem Group - 2
01/2/201218:28Tandem.....good times ahead !534
24/8/200516:46Tandem Group303

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Tandem (TND) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-11-29 11:40:18131.154052.46O

Tandem (TND) Top Chat Posts

Top Posts
Posted at 30/11/2023 08:20 by Tandem Daily Update
Tandem Group Plc is listed in the Motorcycles,bicycles & Parts sector of the London Stock Exchange with ticker TND. The last closing price for Tandem was 140p.
Tandem currently has 5,464,459 shares in issue. The market capitalisation of Tandem is £7,650,243.
Tandem has a price to earnings ratio (PE ratio) of 11.35.
This morning TND shares opened at 140p
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.
Posted at 31/10/2023 08:00 by actscap
So looks like TND took the plunge and will start renting out its warehouse space. They could have done this earlier imo.
Posted at 24/9/2023 06:44 by rcturner2
CT, I ran a business for 20 years and sold up 2 years ago and now have a management position in the larger business.

For probably 12 months at least you have posted what can only described as misleading nonsense about Tandem, the way you post about Tandem you would think it was Tesla or Apple.

Unfortunately the share price shows the real story and if you had listened to me (rather to yourself) you would have saved yourself how much money?
Posted at 20/9/2023 11:42 by my retirement fund
FOB is the most common standard incoterm importers use to agree who's paying for shipping processes. The importer then ends up with the goods so normally has to warehouse them before the usual processes such as repackaging, quality, checking, batching, storing and selling them on.

Direct Delivery or DD is not. Direct delivery is what you do when your drop shipping. You don't need a warehouse to be drop shipping!

Drop shipping is excellent from a business point of view because you don't need any capital outlay, you take your customers money, prepay import duties and pay the supplier to produce and ship the goods directly to your customer.

Drop shipping is rarely sustainable though, and usually comes to a sticky end. Either you loose your customers as you cant keep that personal service and keep an eye on quality, delays, shortages, mistakes etc.

Or, your customer or your supplier spies the land and cuts you out of the loop to deal directly to save money and address all those inherent short comings that drop shippers create. In business, drop shippers are parasites!

Anyway, whatever really is going on there, it sounds insane. Reading todays statement sounds like they are utterly clueless.

Didn't they loose a key person recently, perhaps they lost the only person who knew how the business worked? as it reads like things are in complete chaos.

I'm surprised the share price hasn't crashed to 50 pence.
Posted at 29/6/2023 14:03 by castleford tiger
Eezy and RC turner

2 of the biggest bike dealers have gone under this year and others will follow.
You may conclude from reading the statement that bike sales are down.
Well they are not. Adding electric to traditional means sales are actually up.
Likewise if you look at the headline reduction in sales you arrive at your conclusion. Again the reason is a switch from FOB sales booked when shipped to more direct deliveries from Tandem in the U.K.
So the numbers will be pushed more into the second half.
The share price is as a result of the current market conditions and at less than half NAV (after deducting intangibles )
Serious investors were at the AGM have you seen them reducing?
My comments this morning before leaving are justified as it’s tough out there.
Profit target for the year has been maintained so even a chunky 5.2% yield will be covered.
The groundwork is almost finished with the new warehouse up and running( we did a tour )
Efficient handling now will help reduce costs and we voted to allow the company to buy its shares back.
Of course there are economic headwinds of which Tandem can do nothing but as soon as the situation starts to move back towards normal tandem will rapidly move forward.
Iam a long term investor here and I am happy with the team and the way the business is coping in difficult times.
Posted at 29/6/2023 07:03 by our haven
CT, I do fear that despite the current low share price, the market will continue to devalue the share after today's statement.Very happy to be proved wrong.
Posted at 08/9/2021 08:16 by skwas1
Has the Halfords comment on supply chain issues caused the TND share price fall today? Hoping our Sept trading update start to change direction of this share price So far it’s not done much for me over the last 12 months.
Tandem share price data is direct from the London Stock Exchange

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