Tandem has announced H1 results, which reflect a highly challenging market environment, with sales down c24% YoY, and a loss before tax of -£0.9m (H1/22A PAT £0.3m). Ongoing cost of living pressures have played a key part in this weaker performance, as has poor weather and a shift in the buying pattern of customers. Management now expects to be “approximately breakeven” for the year – we update our forecasts (FY23E Adj PAT reduced from £0.9m to £0.1m; FY24E cut from £1.3m to £0.7m as economic pr ....
