PracticeAccounting FirmsTenon back in black

Tenon back in black

Listed accounting company Tenon has reported a return to profitability after a period of restructuring that saw the company sell off several of its previously acquired businesses.

Link: Tenon buys two firms in £9m deal

For the twelve months to 30 June 2004 the company reported a profit of £2.5m on turnover of £80.6m, although due to the company changing its reporting date, the 18 month figures it reported showed a loss of £10.5m.

By comparison, the adjusted figures for the year to 30 June 2003 showed a loss of £129.6m on income of £81m.

‘These results are the culmination of 18 months dedicated work by all of our people across the group,’ said Tenon chairman Neil Johnson. ‘We have repeatedly shown that we can act decisively to improve our business and take advantage of changing circumstances and we will continue to do so.’

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