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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 | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 225.00 | 220.00 | 230.00 | 225.00 | 225.00 | 225.00 | 337 | 07:45:46 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Motorcycles,bicycles & Parts | 26.68M | 674k | 0.1233 | 18.25 | 12.3M |
Date | Subject | Author | Discuss |
---|---|---|---|
19/4/2018 19:02 | I think i'd be wary of buying after a particularly good year as i'm not sure it will be repeated this year. THe outlook statement doesn't sound altogether optimistic. "We are cautious about the outlook for the year ahead, but we remain confident that we have the resources and personnel to deliver profitability to our shareholders." So I guess if this year marks a step change in performance they're a bargain, but if profits fall back to the kind of levels they've made over the last 5 years or so then they're probably pretty fairly priced. | arthur_lame_stocks | |
19/4/2018 18:52 | With a good broker you can get well inside that spread. I have an order in. I picked up 5000 on Tuesday at £1.51 | davidosh | |
19/4/2018 14:58 | I was in this for about a decade, and sold 2-3 years ago. I am now re-acquainting myself with it again. I know all the history and frustration around Directors taking disproportionate rewards. Having made Underlying £2.2m PBT in 2017, I see some grounds for optimism for 2018, particularly around the Margin %. 1. After the damage to margins in 2H 16, I see they have increased selling prices and renegotiated / re-sourced with their suppliers. Its notable that the second half 17 gross margin was actually 31%...and if that same rate rolls through to FY 2018 (FY 17 was 29.6%) it would be worth another £0.5m profit. 2. Further Currency benefit: The average Rate in 2h17 was $1.32, and is now over $1.40. The total Direct "Cost of Goods Sold" is c £27m...and the question is How Much of this cost is dollar denominated? The 2016 annual report describes the dollar element as "Significant". If (say) a quarter of the COGS was in dollars, and the rate remains at c$1.40...that would be worth another c£0.4m - £0.5m of PBT IF everything else remained equal and they don't pass the benefit back to customers in cheaper prices! 3. Net Debt...now down to just over £1m....so one would hope the £0.2m Interest Cost should reduce considerably. However, I note they moved the date of the final bullet payment back to 2020...which I don't quite understand. The risk in the opposite direction might be Sales, and in March they highlighted that Sales + Order Book was below last year. If (say) 2018 Sales were 5% lower than 2017 it would cost us c £500k if all else equal. I am tempted to buy some again as the valuation does look compelling, and a (very crude) view of 2018 indicates potential for further profit growth driven by margins even if sales disappoint. That 20p spread is also putting me off while I consider it! | simso | |
12/4/2018 08:02 | my point dave4545 | castleford tiger | |
12/4/2018 07:58 | ALS I thought the results were stunning. But due to wide spread and illiquidity it's just not worth playing imo. | dave4545 | |
12/4/2018 07:53 | Again after a quick look. NAV 221P. Last year 550k on finance costs should be less than 50k this year. That's a further 500k to bottom line. We were paying 400 k a year property loan, that's finished. That adds a further 900k in current year. The biggest problem is buying the shares. Its 140p-165. That's not a Market. The MM need to push it to 180/200p and flush out some sellers. They make money on a trade but not doing any. I want more but they are impossible to buy. Tiger | castleford tiger | |
12/4/2018 05:19 | If they can turn in another performance like this one in 2018 and if pound stays about the same vs USD the GM should improve further adding perhaps another 500k to profits. Debt will have been eliminated. Perhaps the relaunch of pro rider will work out well. Demographics point to this being a growing market so seems a good area to be in to me. Bikes is the problem area due to extreme competition but it is now a profitable business with potential to do well and is no longer a drag on the very successful toys business. | amt | |
11/4/2018 22:06 | I was just taking a closer look at these and in the first three years since acquisition for £2.5m Pro Rider has made a total contribution towards profits of £24k. The accounts for this year are not available yet so I don't know if things have improved. over the five years to 2016 the cycle business made a total loss of £1.088m. over the same period the uk arm of MV Sports has made a total profit of £3.654m It doesn't seem possible to get figures for the HK part of MV Sports but it seems to turnover about £10m. I make the cumulative profit of the other three over the last five years to be about £2.6m and the cumulative profit of the group as a whole to be about £4.9m it must be reasonable to assume it's fairly profitable. Personally I think they never should have bought Pro Rider, they would have £2.5m more cash now and they should have got rid of the bycicles business years ago. MV Sports seems like the only part of the business that is worth anything much. I don't know if ESC was worth buying because there are no real figures for the period of TND's ownership. My figures are a bit rough so feel free to criticise. Having taken a bit of a better look though I won't be buying at this price. I guess they're pretty cheap but not stonkingly so. | arthur_lame_stocks | |
11/4/2018 20:41 | Great results this year but the outlook is uncertain and the five year record of profitability not that great. I think anyone thinking of buying these would be wise to wait rather than think that this years results are the norm. | arthur_lame_stocks | |
11/4/2018 20:21 | Did you know one of their pension funds is called the casket group pension fund. As if you want to be reminded when you're getting on a bit. | arthur_lame_stocks | |
11/4/2018 18:57 | Well I got my numbers close. Even called for a revaluation and got it. EPS was slightly higher ( not complaining) and cash an added bonus. Now we have finished paying for the building I can see this year being better. 140p looksvery mean just 4 x earnings!! I think 8x is fair. I await the full report Cannot do AGM as away but need to chew the numbers more as it looks very good. Any trades today? Tiger | castleford tiger | |
11/4/2018 12:47 | Well, you did well at 65p. It has not been below 70p since 2009, so you certainly are a long term holder | graham1ty | |
11/4/2018 09:16 | I bought at 65p according to my records. Might be mistaken. Anyway even at 1 quid its now 30% higher plus dividends better than many FTSE 100 countries where the index is barely above where it was in 1999. Its not a ZOO 1.000 % gain in a year admittedly (or a D4T4 shameless plug☺) but its a longterm investment in a very difficult sector. See what happened to Toysrus Anyway it looks like it is undervalued. 11m net assets and property alone over 3m vs market cap of 6.5m If a pe of ten were put on it the share price would be 3.50 so I think we can be happy with that. | amt | |
11/4/2018 08:31 | Amt, ten years ago the price was 101p. If you had bought below 100p in c 2014, and sold into the rise in 2016, you might have doubled your money.....but that is only “low to high”. Any other holding period over the last ten years has brought virtually nothing. I held from about 2000-2010, waiting for “a doubling over ten years”. It did not happen. Good luck now | graham1ty | |
11/4/2018 07:44 | I am very happy with doubling my money over ten years plus very healthy income. Credit where credit is due. | amt | |
11/4/2018 07:33 | Graham I have followed for more than 10 years. There have been ups and downs but compared with most AIM companies it is doing well. Its a longterm story thats now looking very positive. It seems to me management are very proactive and have some excellent products particularly toys but all sectors look good. | amt | |
11/4/2018 07:09 | Perhaps ant may wish to give them a pay rise? | my retirement fund | |
11/4/2018 06:48 | Amt, if you had followed this for 10-15 years, you would know what I meant....... | graham1ty | |
11/4/2018 06:39 | What do you mean "despite management" These are good results in tough markets where the economy is in a difficult post Brexit period including a significant fall in the pound although it has started to recover a little. Seems to me management have done a good job pulling off these results and put the company in a good position. They seem to be very proactive. | amt | |
11/4/2018 06:23 | Tiger, those results look pretty good ( bonuses all round). The underlying cash and asset backing is now substantial. That should reset the share price to a new base level. However, as always, they are cautious about this year. Your patience should be rewarded, despite management ! | graham1ty | |
06/3/2018 16:07 | didn't bother todays buyers and pushed price up tiger | castleford tiger | |
05/3/2018 13:13 | davidosh No I don't think he does. He and I were the only two at the last AGM. GRAHAM I agree with you paid far too much and not enough based/aligned to improving shareholder value. AMT Remember this debt came about buying the last two companies and the building. Less than a years profit is not highly geared. You will never get a fair valuation on these and 15x I cannot see happening. Just been quoted 2500 shares at 1.25 sell 10000 at 1.125. Looking to buy but that's a crazy spread. If I started selling it would be a pound in no time Tiger | castleford tiger | |
04/3/2018 07:52 | Until the Board is changed, nothing will happen. Over the last ten years, the total remuneration of Mervyn ( non Exec Chairman since 2011) has been £1.18m and Steve Grant has been paid over £2,000,000, yes, repeat that £2.0m yes, million. Mervyn has been there 29 years. Steve joined MV 28 years ago. And in that period, they have built the Company up to £5.5m......er, surely some mistake. Surely it must be bigger than that ? Surely ? Er, NO, NO, NO. But they obviously. Think it is cheap and have been buying up every share they can ? Well, no actually. Mervyn, after 29 years, has built up a stake of 221,000. Steve, has £250,000 worth So, are shareholders and Directors interests aligned ?? Steve got a divi of £9000 and a salary of £231,000. I think I know which is more important to him...... | graham1ty | |
04/3/2018 01:23 | Does Simon Bragg read these boards ? Has he been to the last two Agms as I have missed them ? I think Tandem should do a presentation to investors and where better than the Mello2018 event in Derby ? | davidosh | |
03/3/2018 21:03 | I would much rather take a prudent view. Once all the debt has been cleared the company will have been derisked and the share price might then be on a fairer pe of say 15 which will give shareholders a much better return than increasing dividends. | amt |
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