LONDON (Thomson Financial) - Tandem Group Plc. reported a higher full year
pretax profit, but said it sees a 'challenging' year ahead and sees no growth in
first half sales compared to last year.
The maker of sports and leisure equipment posted a pretax profit of 1.11
million pounds for the year to Jan. 31, 2008, against 649,000 pounds a year ago.
Revenues rose to 34.88 million pounds from 33.79 million pounds.
The company said turnover in the first quarter of the current year was down
on the high levels achieved last year. However, with improved margins and firm
management of operating expenses, the pretax profit was ahead of the same period
last year.
The company said increased selections with national retailers and new
character licences should improve sales in the second half of the year compared
to last year.
TFN.newsdesk@thomsonreuters.com
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