Profits forecast up for MV Sports parent, Tandem

Licensed ranges perform well, despite fears over saturation of market by Toy Story 3 lines.
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The Tandem Group, which owns MV Sports as well as bike brands Falcon, Dawes and Claude Butler, forecasts an increase in first half pre-tax profit thanks to increased bike sales and a solid performance from its licensed ranges. Pre-tax profits last year totalled £547,000.

Sales for the six months ended 31st July were flat at £19m ($29.3 million) from £18.9m last year.

The company said revenue growth at its Dawes cycle unit and the sports, leisure and toys business was offset by lower turnover from a bicycle promotional contract with a national retailer.

"Despite the fears that Toy Story merchandise would saturate the market for Autumn/Winter 2010 following the movie release, revenue from our licensed properties, including Ben 10 wheeled toys, is likely to exceed our earlier expectation," the company said in a statement.

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MV Sports? parent company Tandem has posted its latest financial results, showing both turnover and profits down.

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