LONDON (Thomson Financial) - Tandem Group Plc., the sports equipment
manufacturer, posted a 34.6 percent rise in its first-half pretax profit even as
revenues fell marginally.
For the six months to July 31, the company said its pretax profit rose to
451,000 pounds from 335,000 pounds a year earlier, while revenues fell 0.2
percent to 18.05 million pounds.
"Increases in raw material and labour costs in Asia, alongside the
additional currency expense, means that we will need to achieve higher prices to
maintain our margins," said chairman Graham Waldron.
The company added revenue from its bicycles and accessories businesses rose
2.9 percent to 10.14 million pounds.
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