Tandem Group PLC
13 December 2005
Tandem Group plc
Closure of facilities in Devon
Tandem Group plc, the sports and leisure equipment manufacturer and distributor,
is issuing an update on its Pot Black snooker, pool and outdoor leisure
business.
In our interim statement issued on 24 August 2005 we reported that the decision
had been made to merge the Pot Black operations within the Group's MV Sports &
Leisure business and that the assembly operations in Devon would significantly
reduce or cease. The sales and administrative functions were combined at the
beginning of August resulting in cost savings.
The Pot Black assembly operations will cease in January 2006. At the same time
the Pot Black distribution facility in Devon will be closed and moved to the
West Midlands alongside the Group's MV Sports & Leisure, Dawes Cycles and Ben
Sayers businesses. As a result additional costs and provisions will be incurred
taking the total exceptional restructuring costs of Pot Black to around £1.2
million for the year.
It is expected that the Group's turnover for the year to 31 January 2006 will be
approximately £42 million with an operating loss around £150k, before
exceptional items and goodwill amortisation.
This information is provided by RNS
The company news service from the London Stock Exchange