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Sports and leisure equipment retailer Tandem upgraded its annual profit guidance following a 'robust' performance over Christmas.
Pre-tax profit for the year through December was expected to be 'well ahead' of the prior year and 'slightly ahead' of current market forecasts, the company said.
Tandem said that whilst the rate of growth achieved in the second half did not match levels seen in the first, turnover was still over 7% ahead year-on-year, despite ongoing logistics impacts.
'2022 has begun more slowly for the group, with some customers delaying orders into future months,' Tandem said.
'However, we remain confident that we have secured the strongest wheeled toy licences and have some exciting developments planned for the year.'
'The business continues to experience global logistical challenges, which are still impacting upon the supply of goods from the Far East to the UK.'
'Despite this, our order book remains materially ahead of the comparative position in the prior year.'