- Sports equipment supplier Tandem Group said it expected to report only a 'marginal' fall in annual pre-tax profit after its sales improved in the second half.

Revenue for the year through December was expected to fall by around 12% to £32.5m.

The company had already reported a 30% fall in first-half revenue amid poor weather in February and March, large overstocks with a certain national retailer and the ongoing impact of the demise of Toys R Us.

'However, in the second half of 2018 the group experienced revenue growth of nearly 6% as it recovered from the poor start to the year,' Tandem said.

'This was despite a difficult economic backdrop and a number of negative indicators both in the macro economy and indicators specific to our sectors.'

Turning to its outlook, the company said 2019 had started 'very strongly', principally driven by its MV Sports & Leisure business, where the forward order book was 'considerably ahead' on-year.

'We have secured additional business with several national retailers and expect to increase revenue, based on current listings, with a number of others,' it added.

'We are optimistic about the outlook for 2019.'

'Whilst we are mindful of macro-economic uncertainties, we expect to achieve significant turnover growth and we continue to be extremely confident in our ability to deliver profitability to our shareholders.'

At 9:27am: [LON:TND] Tandem Group PLC share price was +25p at 140p

Story provided by