Tandem Group (LSE:TND), the AIM-listed designer, developer, distributor and retailer of sports, leisure and mobility equipment, reported revenue of £11.9 million for the six months to 30 June, up 6.7% on £11.2 million a year earlier.
The group swung to a pre-tax profit of £70,000, compared with a loss of £378,000 in the same period last year.
Gross margin rose to 33.3% from 30.9%, helped by new products and currency movements, lifting gross profit 15% to £4.0 million. Earnings (adjusted EBITDA) reached £374,000, up from £81,000, while operating expenses rose to £3.7 million from £3.5 million on higher employer national insurance costs and increased advertising spend.
Basic and diluted earnings per share came in at 1.3p, against a loss per share of 6.9p in H1 2025.
Net debt fell 14.6% to £2.8 million and net assets increased to £26.1 million.
Bike sales rose 15% in the half and 24% year-to-date to the end of August, with own-brand electric bike sales up 36%, while Home & Garden sales jumped 76% in H1 on strong demand for cooling and outdoor living products.
Toy, Sports & Leisure remained weak, with outdoor toy sales down 13%, and Golf revenue fell 19.2% in H1, though the gap narrowed to 10% by the end of August on order-timing effects.
Sales for the year to 30 August ran 9.1% ahead of the prior period, and the company said market forecasts point to full-year revenue of £27.7 million and pre-tax profit of £0.8 million.
"The Board remains confident of delivering a full-year result in line with current market expectations", chief executive Peter Kimberley said.
The board intends to declare a full-year dividend if market expectations are met.