Posted this elsewhere, worthy of your consideration!

Time to look at Tandem crazies. After years of disappointment, Tandem has undergone a transformation and, at just 16.5p, the shares should now be bought.
The group consists of four areas, as well as bikes there is snooker, golf and a range of new products following the recent purchase of MV Sports, including Barbie (the character licences are worth a fair bit btw).

The market cap is just over 6 million and last time pre-tax profits raced ahead from 234k to 609k, up over 150%.

But the real turnaround follows transfer of production from Europe to Asia which will enable cost savings, which though initiated last year, will show through this year in the profit numbers and is likely to result in a p/e of under 5. And the purchase of MV Sports last year has had time to bed in and is now delivering yet more lovely profits, well ahead of repayments being required. Trading (always skewed to the second half) is said to be buoyant and the blend at last looks genuinely persuasive. (The Pot Black range is worn, very clear to see btw, by several of the high profile snooker Players you will see - ad nauseam - next week).

A clip - or three - from results:

our balance sheet continues to strengthen with net
assets increasing to 7,300,000 as at 31 January 2004 compared with 5,431,000
as at 31 January 2003.

and

Sales for the current year are ahead of last year and we expect that MV will
have a successful year

or

The benefits from the actions that incurred the exceptional costs in the year to
31 January 2004 should be received during the current financial year with
savings of fixed costs and improvements in margins


A forward p/e of under 5, buy.

Iam in big time - bought in years ago on a hunch but this is different.
Topped up a cople of months ago - long term mover - should pay for
a world trip next year..

Well done transco, agree, this time i think TND is for real!

Nudging ahead again despite yesterday's big rise, impressive. Value will out.

Another nice day on a bad day for the market. Fireworks are about to start!!