LONDON (Thomson Financial) - Tandem Group PLC swung to profit in the
first-half as revenues rose 11.8 pct despite bad weather, and said it expects
sales to continue to improve for the rest of the year.
For the six months to end-July, the maker of sports and leisure equipment
said pretax profit came in at 335,000 stg against a loss of 373,000 stg last
year.
Group revenue rose to 18.05 mln stg from 16.14 mln, the company said, adding
that new licences should generate further sales in the second half.
Administrative expenses were 1.62 mln stg versus 1.88 mln stg last year.
It said it has also reduced its group pension deficit by 680,000 stg since
the beginning of the year and is continuing to look at ways to further decrease
or eliminate the shortfall.
TFN.newsdesk@thomson.com
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