Tenon stock dips after loss
AIM-listed accountancy group down 1.04% after yesterday's interims
Tenon’s share price was 1.04%, or 0.25p down, at 23.75p in morning trade this
morning as the market digested the group’s interim results, where the AIM-listed
group posted a £1.5m interim loss.
The group’s £1.5m loss compared with a £1.9m profit over the previous period.
Profit before tax, goodwill amortisation, terminated operations and other
exceptional items halved from £4.2m to £2m even though revenues were up from
£47.2m to £52.1m.
The accounting group also failed to provide further detail on its strategic
review and the proposed MBO led by chief executive Andy Raynor.
Initial news of the MBO earlier this year saw Tenon shares hit 30p, but a
profit warning a few weeks later saw the stock fall below the 25p level where it
has lingered since.
For more on Tenon’s interims visit accountancyage.com/2153069