RSM Tenon books 65% interim growth in revenues
UK's seventh largest firm books revenues of £121m for six months to December 2010 with underlying organic growth of 3.5%
RSM TENON has reported interim results revealing turnover up 65% for the six months to December last year. Revenues for the period stand at £121m against £73.5m in 2009.
The figures are driven by the takeover of Bentley Jennison at the end of 2009 but underlying organic growth is reported at 3.5%.
Chief executive Andy Raynor said: “We have grown both the turnover and profitability of the Group and our single minded commitment continues to deliver the expected benefits of recent acquisitions.
“In an economy and marketplace that is increasingly uncertain in outlook, vital to the future are our recurring client base, complementary service lines, better use of resources, and strength from scale.”
The company said that organic growth in audit, tax and advisory stands at 7%, and report an operating margin of 11.2%. Underlying operating profit is reported as up 53% to £13.5m.