Significant sales drop spooks investors
The share price of Birmingham-based Tandem Group closed down 12% after revealing sales were 30% lower than a year ago.
The company, which designs and makes bikes, toys and licensed products, blamed the drop on major retailers carrying forward stock from last year.
It has also suffered from the demise of Toys R Us, which had been one of its top five customers.
Chairman Mervyn Keene told Tandem Group's annual general meeting: "Lengthy spells of cold weather and periods of heavy rain coupled with cautious national retailer buyin... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
