AGM Trading Statement

Tandem Group PLC

17 June 2026

 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.  

17 June 2026



Tandem Group plc

(the 'Group' or the 'Company') 

AGM Trading Statement

Tandem Group plc announces that at the Annual General Meeting of the Company to be held today at 11.00 am (the "AGM"), the chairman of the AGM will make the following statement.

"Tandem reports that financial performance in the current year ending 31 December 2026 remains on track to deliver in line with market expectations. At 31 May 2026 the Group's overall sales position was 2% ahead of the prior year and by the end of June will be in line with the Board's expectations. This is despite continued uncertainty in the wider economic environment and ongoing instability across the Middle East.

Bikes are delivering encouraging growth, with sales currently ahead of the prior year by 8%, outperforming broader market trends. The division continues to benefit from product newness, an improved product offering, and growing momentum across both independent dealers and national retail accounts.

In particular, the Group has seen strong growth in the electric bike category, where new and existing models are gaining significant market share within the value segment. Further electric bike product launches are planned for the second half of the year.

The Group has invested resources to develop bike sales into Europe, where we are seeing opportunities for expansion through distribution channels.

We continue to drive growth in our award-winning premium children's bike brand, Squish, through expansion into new European markets alongside the successful launch of our dedicated website, enhancing brand visibility.

Home & Garden sales are currently ahead of the prior year by 37%, despite the challenge of unfavourable weather conditions during the first part of the year compared to the same period last year. Growth has been primarily driven by the Outdoor Living, Garden Storage and Cooling product groups, supported by ongoing enhancements to website functionality and content, that have improved customer engagement and conversion.

We continue to build momentum through the development and sourcing of new product categories and seasonal ranges. The introduction of additional product groups across Outdoor Heating, Pet Beds, and Home & Garden Décor is expanding our new customer base.

Toys, Sports and Leisure sales are currently tracking 17% below the prior year. The phasing of FOB sales are currently behind the prior year by 6%; however an improved performance is expected for the second half of the year. Domestic sales are lower versus the comparative period due to significant clearance activity in the prior year, with no equivalent programme required in the current year, delivering improved margin.

During the period, the Group secured its first pan-European licence agreement with KPop Demon Hunters, covering the UK, Ireland, Europe and the Middle East, further strengthening its international licensing position.

We have also continued to expand our licensed portfolio with new opportunities, including Aston Martin, benefiting from the continued global growth of Formula 1; Steal a Brainrot from the Roblox gaming platform; and SEGA's Sonic, all of which include rights across Europe and the Middle East.

Golf sales are currently 2% behind the prior year. However, confirmed future orders already in place will drive a stronger second half performance, positioning the category to return to positive growth.

Underlying performance remains solid, supported by improved product availability, the introduction of new ranges, and continued expansion across both domestic and FOB channels. Growth is supported by expanding international demand and strengthening relationships with European golf distributors and retailers. The Group continues to invest in innovation through the development of the next generation of electric trolleys.

Group Outlook

Market conditions remain challenging, with ongoing inflationary pressures, fluctuating consumer confidence, and geopolitical uncertainty continuing to impact trading conditions.

Despite these issues the Group is well positioned through its strengthened licensed portfolio, ongoing range development, growing international presence, and broadening customer base.

The Board remains confident in Tandem's ability to meet market expectations for the current year."

Enquiries:

Tandem Group plc

Peter Kimberley, Chief Executive

Gurvinder Kaur, Company Secretary

Telephone [phone]

Nominated Adviser

Cavendish Capital Markets Limited

Ben Jeynes / Callum Davidson - Corporate Finance

Michael Johnson / Jamie Anderson - Sales and Equity Capital Markets

Telephone [phone]

 

END