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.
Three new partners and seven business restructuring advisers have been appointed to the new Preston office
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
The Top 20 firm has recently advised J S Wright, the mechanical and electrical building services specialist
Promotions have been made in the private clients tax team and corporate business team