But AIM-listed Tenon has gained 5.1% since last week. Stuart Duncan, equity analyst at Numis, said its core business and broad business base have kept the company from a negative trend.
Duncan said that Tenon had been resilient because its core business is outsourcing – used as a means of cost cutting by distressed businesses – and it ‘does not have exposure to American markets.’
Other listed accountancy-related businesses were not so lucky. Software giant Sage, tumbled 13.8% after a profit warning from competitors Oracle and Inuit.
KPMG Consulting, which recently floated on Nasdaq, fell 21.3% and is now trading below its initial offering price.
For a look at stock exchange websites see page 15.
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