Turnover and profits increase at Tandem Group PLC

For the year ending 31st Jan, the owner of Dawes and Falcon has reported a 58 percent hike in profits on a 22 percent rise in turnover
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The profit on ordinary activities before interest and taxation increased to £1.225m up from a restated £777 000 previously, on turnover of £35.32m up from £26.5m earlier.

Oprofit in the last six months of the financial year increased by 111 percent from the previous year to £1.101m.

The results of Dawes acquired in June 2001 have been included in the group financial

statements from that date.

And Tandem said its results for the first quarter of 2002 should show further improvements over the same period last year.

Chairman Graham Waldron said: "The continuing progress of Falcon and the successful integration of our four acquisitions since September 2000 have transformed the group."

Tandem said production of Dawes models has increased in April and that reduced fixed costs

will help operating results to be maintained.

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