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Lower Sales and Loss for Tandem

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BRIGG, UK (Dec 20) – Tandem Group PLC has said it expects to post sales of about GBP 42 mn (€ 61.8 mn) for the year to end January 2006 and an operating loss of around GBP 150 000 (€ 220,000) before exceptional items and goodwill amortisation. Tandem’s annual turnover to the end of January […]

BRIGG, UK (Dec 20) – Tandem Group PLC has said it expects to post sales of about GBP 42 mn (€ 61.8 mn) for the year to end January 2006 and an operating loss of around GBP 150 000 (€ 220,000) before exceptional items and goodwill amortisation. Tandem’s annual turnover to the end of January 2005 was GBP 52.68 mn (€ 77.5 mn). It was GBP 56.9 mn (83.7 mn) in the previous year.
The company said its Pot Black assembly operations will cease in January 2006 and that the Pot Black distribution facility in Devon will be closed and moved to the West Midlands alongside the group’s MV Sports & Leisure, Dawes Cycles and Ben Sayers businesses.
As a result additional costs and provisions will be incurred taking the total exceptional restructuring costs of Pot Black to about GBP 1.2 mn (€ 1.8 mn) for the year. (CR)

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