Change of Accounting Reference Date

RNS Number : 0424T

Tandem Group PLC

30 November 2011

 



TANDEM GROUP PLC
(the "Company")

CHANGE OF ACCOUNTING REFERENCE DATE

Tandem Group plc (AIM: TND), designers, developers and distributors of sports and leisure equipment, announces that its accounting reference date has been changed from 31 January to 31 December with immediate effect.

The Board considers that this will better align the reporting period to the operations of the businesses.  In our bicycles & accessories business our new ranges are launched in January each year and a December year end in our sports, leisure & toys business will align more favourably with our customers' selling periods. 

In addition, the variability in inventory levels due to the different dates of Chinese New Year, which can fall in either January or February, will be eliminated.

Accordingly, the Company will release audited results for the 11 month period to 31 December 2011 with additional disclosure to provide a meaningful comparison with the prior year.

Enquiries:

Tandem Group plc

Steve Grant, Chief Executive

Jim Shears, Group Finance Director and Company Secretary

Telephone [phone]

Nominated Adviser

Cairn Financial Advisers

Tony Rawlinson

Telephone [phone]

 

END

 

 

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