Tenon shares hit new low
Shares in the UK's largest accountancy company Tenon, have today plummeted to an all-time low of 57.5p, following announcement of the group's full-year results to 31 December.
The price of its stock has fallen steadily since the beginning of the year, but has fallen sharply on the news. At the beginning of September, its shares had been valued at 137.5p. Since then, the company’s shares have remained below 80p.
Chief executive Ian Buckley today revealed his disappointment at the group not achieving better full-year results, as after announcing a pre-tax profit before goodwill amortisation of £678,000 from a £55m turnover.
However, the group remains confident it will meet this year’s forecasts of £14.5m profit and growth in turnover to £100m. Buckley added this year has started brightly for the group.