Tenon set to release full-year results

The group, which blamed the warning on it paying the ‘price of expansion’, will post its results on the AIM stock exchange in the morning.

It has stated its profits will be a fraction of what the market had been expecting. Profits to 31 December 2001 will be between £500,000 and £1m against an expected £6m.

Tenon has combined 16 accountancy practices over 13 months in an attempt to build a nationwide alternative to mid-tier firms including Baker Tilly and BDO Stoy Hayward.

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