Tenon is celebrating
a sizeable increase in its turnover, as its fortunes continue to turnaround in
comparison with the same period in the last financial year.
The firm, which specialises in advising entrepreneurial businesses, saw
its interim profits soar on strong demand for its expertise especially in
financial planning and taxation. Major restructuring activities are also
reportedly coming to fruition.
Tenon’s half-year profits increased by 171% to £5.1m as turnover jumped
by 42% to £74.1m when compared with the same period in 2005 – indicating that
the firm has consolidated the turnaround of its fortunes after a troubled
Tenon has built on the demand for its services from the entrepreneurial
marketplace, but the positive results have also been attributed to
the restructuring of some of its biggest businesses.
The firm said the merging of its financial services and specialist taxation
units were a major factor in its performance.
Tenon is now expected to enter a growth phase, as it is in a stronger
position to exploit growth opportunities, analysts have said.
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