Bike boom boost for Tandem

Tandem saw its pre-tax profits rise last year from £2.5 million to £4m despite sales falling 4.6 per cent from £38.8m to £37.1m.

Chairman Stephen Grant said: “The impact of Covid-19 led to a material change in the bicycle market. Consumers were keen to cycle which was very positive for the business."

From the second quarter of 2020 revenues was at exceptional levels with significant growth with both independent bicycle dealers and national retailers.

“Stock availability, although slower than we would have hoped for, improved towards the end of the year to enable a strong finish to 2020 for all parts of the cycling businesses from the flagship Dawes and Claud Butler ranges through to our national retailer brands, Falcon, Boss, Elswick, Townsend and Zombie," added Mr Grant.

Tandem, based in Castle Bromwich, has made an encouraging start to 2021 with sales in the 11 weeks to March 21 approximately 90 per cent ahead of the same period last year.

It has seen continued growth in its lightweight Squish junior bikes range and ebike and escooter ranges grew significantly in the second half of last year.

Tandem warns that Covid-19 continues to have an impact on the supply chain and on its ability to travel overseas.

It is being hindered in its ability to identify and source new products as efficiently as before.

Freight issues are showing signs of improvement with more capacity in the system to fulfil demand and ports reporting being less congested and as a result container costs are reducing.

Tandem says its 2021 range of bicycles has been well received by customers and the demand for bicycles is showing no sign of abatement.

It has pre-sold nearly all Squish bicycles for 2021 with an order book well into 2022 and demand for ebikes still strong.