- Sports equipment developer Tandem said it expected to post a higher first-half profit as wider margins offset a fall in sales.

In a trading update for the six months through June, the company said it had experienced strong demand for bicycles and outdoor products.

However, it added that the supply chain, particularly for bicycles, remained under pressure, with strong global demand on suppliers and increased lead times.

'In addition, national retailers continue to be cautious in their buying decisions,' it said.

Revenue for the period fell due to a lack of free-on-board orders from national retailers and the limited supply of bicycles.

'However, margin from domestic business has remained strong during the period with lower overheads as a result of the Covid-19 impact,' Tandem said.

'As a consequence it is difficult to confidently forecast the full year result at this stage.'

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