Bullish outlook for mobility brand’s parent company ahead of new products and third-party marketplace growth
Mobility brand Pro Rider Mobility’s parent company Tandem plc has predicted a positive outlook for 2019, driven by the introduction of new products, including new mobility ranges and the growth in third-party online marketplaces.
A British-based designer, developer and distributor of sports, leisure, and mobility products, Tandem plc is the parent company of Expressco Direct, a direct-to-consumer company selling arm of the Tandem Group consisting of a number of its brands, including Pro Rider Mobility.
Selling its own-label mobility scooters and wheelchairs, as well as branded mobility products, online and from its showrooms in Northampton and Birmingham, Pro Rider Mobility has been operating in the market for over 10 years.
Releasing a trading update ahead of its annual results for the year ended 31 December 2018, the Tandem Group highlighted that despite a poor first half to 2018 which saw revenue down almost 30 percent on the previous year – caused by poor weather in February & March, the demise of Toys’R’Us, and large overstocks with a certain national retailer – the Group ended the financial year strongly.
According to the statement, although there was a reduction in revenue of approximately 12 percent to £32.5million for the year ended 31 December 2018, the Group’s profit before tax for the year is expected to be only marginally behind the prior year.
Noting the performance of its Expressco operation, the statement revealed that revenue had reduced during the year but overall profitability increased, with the second half of the year seeing strong performance and a double-digit increase in revenue.
“We continued our drive to improve our gross margin by improving supplier buying prices in the businesses for a number of our products.”
As well as selling via its own websites and showrooms, Pro Rider Mobility also has stores on websites such as Amazon and eBay as well, with the statement reinforcing that it will focus on increased growth in this area.
“Whilst we continue to strive for sales from our own websites we cannot ignore the potential from third party sites and therefore continued to take advantage of these sales platforms also.”
Looking ahead, Tandem’s statement disclosed that the company is planning to release a large number of new products for its Expressco arm, with more mobility products planned to reach the market.
“The number of new products developed for 2019 in our direct to consumer business is significant. Not only have we fully redesigned and extended our gazebo range with higher specification components and fabrics, we have developed new products in outdoor, leisure, home, mobility and Christmas categories.”