StockMarketWire.com - Bicycle retailer Tandem Group posted a flat annual profit after sales were hurt by unseasonal weather and the demise of retailer Toys R Us

Pre-tax profit for the year through December fell to £1.87m, down from £1.89m on-year.

Revenue fell 12% to £36.8m.

Tandem declared a final dividend of 2.89p per share, bringing the full-year dividend to 4.31p, up 5% on-year.

'The year has started very strongly for the group, principally driven by the MV Sports & Leisure business where the forward order book is considerably ahead of the same time last year,' chairman Mervyn Keene said.

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

'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 9:17am: [LON:TND] Tandem Group PLC share price was +20p at 190p



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