Tandem Share Discussion Threads

[davidosh] 28/10/2013 11:15

In ten years the share price has gone nowhere except when gg got involved and yet the directors are taking nearly 20% of the company valuation every year on average in pension, salary and bonuses. How many shareholders are keen to see change so that shareholders get something in the next decade ? Graham1TY has the figures and can probably share them here but it is ugly reading.

[graham1ty] 28/10/2013 10:25

TND at 75p bid. Lowest level for six months when so many other things have doubled. Back to levels similar to early 2010 before the greengiant ramp. Leaving aside option exercises there have been seven Directors buys totalling 54,000 shares, or 1% of the Company. I like that, Director's slowly increasing their interests............but all seven deals done in the 90s.

[mrshaungcm] 15/10/2013 20:10

bike sales are hitting the skids again - not so good weather and other distractions for punters money - tnd will no doubt feel it hard again this winter/xmas

[castleford tiger] 01/10/2013 18:36

NO not me........that said this thing just does need a rocket up it.

tiger

[graham1ty] 01/10/2013 13:15

And again, like London buses, suddenly two buys. This you A ?

[castleford tiger] 01/10/2013 09:00

Looking at the numbers.
t/o per week first half was 432k. total 11.251 million
This has jumped to 759k a week in weeks 26 to 37 to get to turnover quoted.

If they maintained that t/o they would match or beat last years t/o.
Of course they will not as we have the xmas close down and that's worth 1.5 million in t/o.

Does this look right?
A

[mrshaungcm] 25/9/2013 20:49

The high end bike market has recently taken off so I think once retailers have cleared stock they will be re-ordering in large quantities for Christmas so there are reasons to be optimistic

xmas does not really happen in the bike market any more - so do not expect much

[graham1ty] 25/9/2013 16:54

TND dont do high end bikes.....

Hope you are right.......

[amt] 25/9/2013 16:22

My numbers were based on 10% ahead of last year comparatives which gives turnover of 16.5m in H2. The high end bike market has recently taken off so I think once retailers have cleared stock they will be re-ordering in large quantities for Christmas so there are reasons to be optimistic.

[amt] 25/9/2013 08:56

It looks however like the second half is going to be good. Last year H2 net profit was 563k.
The statement made in the report -
The Group sales order book is significantly ahead of the same point last year and we expect the second half of the year to be cash generative.Group performance in July, August and September has been promising, particularly in the sports, leisure and toys businesses, with Group revenue 10% ahead of the corresponding 11 week period to 13 September last year. Although we do not expect to fully recover the revenue position we expect the Group to be profitable for the full year.

My guess would be at least 1 million net profit in second half on turnover of 16.5m. Given the confidence in paying a dividend I wouldn't be surprised to see more than 1 million added to cash. EPS of about 10 for the year so a p/e of 9.
Then next year if they can get back to normal trading levels in the first half it is not inconceivable that 1.5 to 2.0m net profit is on the cards. That depends on current recent trends continuing.
Given a market cap of 4.25m, there is good upside here. That's all my view DYOR.

[poco a poco] 24/9/2013 19:34

Shocking. If this BoD ran a business selling water in Death Valley they would probably go bust. Useless.

[castleford tiger] 24/9/2013 17:48

I am with you and will drill out some questions.

tiger

[davidosh] 21/9/2013 11:16

Shaun....what are mtbs ?

Anyway...Time for action I think.

Why not start with a full list of questions which I can put to the Board for answering and we then make conclusions ? We are the owners so if there needs to be changes then we are the ones who need to take a responsible line and some action or it aint gonna happen as 40% of the shares here are held by hundreds and even thousands of tiny holders with shares worth just twenty quid !

So start emailing me questions via the mellomeeting.co.uk site if you wish or even put them on here. I am very happy to arrange a meeting with the management as well if it is constructive but as I own over 2% here I am certainly not going to let this carry on the way it has done.

Castleford....I too was very unhappy that they would not let us look round the facilities that we had just paid out hard cash for when I asked at the Agm. I am not so sure they fully respect that we are owners and have been sharegholders here for nearly a decade in my case !

Enough is enough.

[castleford tiger] 21/9/2013 09:14

Are we not all saying the same thing?

Whats confusing is the sectors have changed.

DEWHURSTS were the biggest butcher in the country. Is less meat eaten now?

We had 26 shops selling Fruit and Veg now we have 3.

Business changes and Tandem need to and fast. Anyone can import a container of cycles bought at the many trade fairs in the far east.

You are either Volume/Specialist/service.
We are none of the above.

We need a radical overhaul of how the business operates.
The smaller players we sell to are going down fast.

Tandem needs to decide what it is as simply an importer and distributor with high fixed costs has no chance.
The one thing that really worried me at the AGM was they would not let us in the warehouse.
Was it empty or full of stock now unsalable.

Change or die its that simple.
Tiger

[effortless cool] 21/9/2013 08:15

I hear what you are saying - every kid used to have a bike and that is far from the case now.

However, it doesn't change the fact that, as you point out, there has been a massive growth subsector within cycling for adult road bikes. These are expensive products and a huge opportunity in recent years that Tandem seem to have missed out on. If they knew their sector and understood their market like they should, then this would not have happened.

I view that as a very material management failure.

[mrshaungcm] 21/9/2013 06:54

There are cyclists all over the roads down where I am; literally thousands more than there were 10 years ago.

mainly males in the over 30 plus bracket riding road bikes

not kids and mums and dads on all these new cycle paths - which u cant see from ur car - which has not grown in volume - and by far the biggest sector of the potential market place

plus mtbs - which have had sales decrease over the last 20 yrs

[mrshaungcm] 21/9/2013 06:51

well it aint the hey day for sales

read the LINK - thats the most accurate sales figs nationally for ALL bike sales
hxxp://www.bikebiz.com/news/read/bicycle-association-agm-and-anti-dumping-round-up/014933

Down to business
Statistics were among the topics discussed, with bike values proving to be rising, even if volume has remained static in the recent past. Bickerton explained: "We have been keeping tabs on the UK import statistics, which have gone up and down a bit over the last couple of years, but when you take abnormal delivery timing variances out of the calculations, imports seem to have remained at just over three and half million units per year for the last four years...

"So whilst we are all concerned with promoting more bike sales, especially through encouraging bike usage, it looks like we have seen growth in market value rather than volume. The good news is that bike sales continue to be pretty buoyant.

[effortless cool] 21/9/2013 00:02

I suspect it was the heyday for independent cycling shops, rather than the heyday for cycling.

There are cyclists all over the roads down where I am; literally thousands more than there were 10 years ago.

[jeffian] 20/9/2013 23:44

I appreciate that you're 'in the trade', Mr Shaun, but I have to say I have trouble accepting what you say. So the heyday of cycling was 1993-1998 was it? Well I was there and I don't remember it. There is no doubt that the last few years have been a golden period for cycling and if Tandem can't sell into that sort of market, then they can't sell at all.