CASTLEFORD TIGER
07 Oct 2016
hard work buying just 2500 added today and it lifted the priceTiger
TX2
29 Jun 2016
Re: AGM Probably,or at least hopefully,too cheap!We have a bit of a problem at the moment which is that there seems to be too much stock chasing too few customers in the cycle trade.This is general not specific to any supplier.A lower pound will mean importers will need more capital to finance stocks and in the short term could harm profits until customers get used to paying higher prices particularly until all suppliers have cleared old stock.This could hurt margins in the short term.Generally even lower interest rates & lower share prices could bump up the deficit in the pension funds.
CASTLEFORD TIGER
28 Jun 2016
AGM Feel we are on the right track and expect the company to improve on lasts years profit. With new web sites going live during the later part of this year I expect the 2017 year to give us a further jump in profits. On just 5 X earnings the shares are too cheap and I have added today a further 10k
CASTLEFORD TIGER
25 Apr 2016
Re: not happy at all. the lows that were created by the BOD who rewarded themselves with cheap options.Could be a better AGM.Tiger
KEEPING CALM MIKE
25 Apr 2016
Re: not happy at all. Tiger, Moving up well off the recent Lows . K.C.
CASTLEFORD TIGER
20 Apr 2016
not happy at all. Tandem Group's revenues rose to GBP34,385,000 in the year to the end of December - 9.8% up on last time. Excluding the ESC acquisition in September, group revenue increased by 4.7%.Profit before tax and non-underlying items was GBP1,214,000 compared to GBP1,283,000 in 2014, a decrease of 5.4%THE ABOVE IS A SUMMARY from the results yesterday.The shares fell 50% from 200p to 100p on a trading statement just 4 weeks ago.At that time the company had the full year figures.Profit was down 69,000 on a figure of 1.283 Million.Did that warrant the negativity at that time?In my opinion no.Now we find a large number of options have been granted based on the current share price which is still 75p off where it was. 200p to 125p midI look forward to reading what targets have to be met.In my opinion the directors are pretty well paid.To issue options at just 6 x earnings looks like a step too far.Tiger
KEEPING CALM MIKE
19 Apr 2016
Re: results Well good to see that there is some trading in this very thinly traded stock now the results are out and the statement re the HMRC duty that may have pushed the price down the past few months is re stated that if there is a liability it will fall on the suppliers. Nice to see todays hike, K.C.M.
CASTLEFORD TIGER
19 Apr 2016
results However, over recent weeks our order books have improved which is encouraging. That was a line missing from the T/S.EPS over 21p so a p/e of 5-6 times.Still look far too cheap to me.tiger
CASTLEFORD TIGER
17 Mar 2016
Even the USD is helping Hello xxxxxx,The Pound has surged to its highest point in four weeks against the US dollar after a big move in currency markets followed last night’s US interest rate announcement. Since Wednesday morning, the US dollar has declined by 1.8% against the Euro and by over 3 cents (2.2%) against the Pound.The Federal Reserve held its benchmark interest rate at 0.5% as expected last night but then backtracked on future rate rises. Fed Chair, Janet Yellen, said only two interest rate hikes were now likely in 2016 versus the four the US central bank initially predicted just a few months ago. The Pound’s rally has taken the GBP/USD rate above its 2016 average which is around the $1.43 mark. The Bank of England’s interest rate decision earlier today did little to impact the Pound’s sharp rebound from last month’s 7-year low of $1.38.
TX2
17 Mar 2016
Re: TIPPED /at least some agrees with me... Yes I agree the shares are certainly cheap........I was merely looking at challenges;however in my opinion in spite of these Tandem is a much better company than it was a few years ago with a more diversified product offer that makes the company less seasonal based & helps with overheads apart from additional profit opportunities.I have added a nominal 1000 shares to my holding today.
KEEPING CALM MIKE
17 Mar 2016
Re: TIPPED /at least some agrees with me. £1.14 TOPPED UP, 1 year low today .
KEEPING CALM MIKE
17 Mar 2016
TIPPED /at least some agrees with me. Good reading, I like them too, maybe a very good long term punt. K.C.M.
CASTLEFORD TIGER
17 Mar 2016
TIPPED /at least some agrees with me. Tandem Group Shares in Tandem Group (120p) have taken a hammering since an ambiguous trading statement was released on 9 March. In particular an unquantified issue with HMRC relating to Pro Rider and ESC products has been flagged up and the potential liability has clearly spooked investors. However, these businesses have been recently acquired and any underpaid taxes should be recoverable from the sellers.The company is involved in the design, development and distribution of sports, leisure and mobility equipment. It has struggled to find favour with investors, more as a result of failing to promote itself rather than any disappointment in terms of the performance of the business. In 2014 Tandem Group delivered earnings per share of over 34p even on a diluted basis and once the full benefits of recent acquisitions are factored in then the company as a whole should be comfortably beating this figure on a regular basis.In the most recent trading statement the company also highlighted the fact it considers the mid-tier independent cycle market to be 'saturated and highly competitive'. To compound matters the relative weakness of Sterling versus the US dollar is also unhelpful. However, on a more positive note revenue in 2015 was up around 10% on the previous year and there was growth of 4% in the first eight weeks of 2016.Full year results covering the 12 months ended 31 December 2015 are due out next month. Although there had been a significant improvement in performance in the first half the latter part of the year appears to have been very tough given the contents of the trading statement this month. The figures should make for reassuring reading and there should be an update on the issues recently highlighted. The market never likes uncertainty so any clarity, particularly on the potential underpaid taxes, may provide a welcome boost. Shareholders in Tandem Group should be prepared to be patient as it is an illiquid stock which is prone to sharp movement. On valuation grounds the shares look too cheap and must rank as a BUY.Thanks to Redmayne for the above.Tiger
CASTLEFORD TIGER
16 Mar 2016
Re: my view Tandem Group said completion accounts for the acquisition of E.S.C. (Europe) Ltd have been finalised.The completion accounts show that ESC's net assets were £1.8m on 1 September 2015. For the 10 month period ended 1 September 2015, turnover was £6.3m and net profit was £0.8m.for clarity
CASTLEFORD TIGER
16 Mar 2016
my view Revenue for the first eight weeks of 2016 was approximately 4% ahead of the same period in the prior year. "Although our bicycle businesses remain under pressure we remain confident that our sports, leisure and toys businesses will show revenue growth in the year."Another clip from the T/S.So we know last year profit pre exc items. will be around 1.4 million.That should grow to at least 2.00 million with the new company ( I actually think 3.00 but hey)We know the company will have NET assets of 8 million or so.I am adding this years profit to the last total of 6.8. Of course it could be higher.We own a freehold bought for 2.6 with a further 300k spent on it. That's 3 million quid.The group will turn over this year close to 40 million.So how much is this company valued at?10x last years 1.4 ?5 times last years?no UNDER 4 x with a market cap of just over 5 million quid.Whichever way you dress that up its far too cheap.Which is why I keep buying and will do so.I think more will be explained with the accounts and the shares may well move back to a more sensible levelThe BOD do very well here ,probably too well for the size of the company.I am thinking Victoria carpets where the CEO is on just 65k a year and has taken the share price from 100p to 1400p.tiger
