Tandem has released a positive trading update for FY21E, with trading in-line with “or slightly ahead” of market expectations (FY21E Adj EBITDA of £5.1m). H1/21E revenue was up 14% YoY, which improved further in Q3/21E (+17% YoY); Q4/21E to date has been largely flat YoY due to a particularly strong prior year comparator period (national retailers initially postponed orders in 2020 as the pandemic flared up, before confidence resumed towards the end of the year, and delayed orders were then plac ....
