Tenon boss Andy Raynor has put his faith in the opportunism of British business owners to ride out a predicted economic downturn.
'Entrepreneurs scrap. They are tough. They will probably view a downturn as much as an opportunity to increase performance,' he told The Sunday Telegraph.
The firm, which has less than £20m of debt, focuses on the entrepeneurial market to generate the bulk of its revenues. Raynor is curently spearheading Tenon's ambitious push to become a £250m turnover business by 2012.
Tenon had sales of £137.5m and profits before tax of £12.4m in the year to June 2007. Brokers at Numis forecast an increase in pre-tax profits to £14.2m this year.
Further reading:
Comments