Tenon growth spurt set to continue.
Tenon chief executive Ian Buckley this week revealed the group has more acquisition deals in the pipeline, which he expects to complete ‘in a matter of weeks’.
Buckley told Accountancy Age that the group, which has been busy buying up mid-tier firms, would announce further acquisitions before the end of the year, despite carrying out a ‘massive amount of activity in the last six months.
‘We will reach our revenue target of #100m by the end of next year,’ he predicted, as the group reported a profit before taxation and amortisation of #1.2m on the back of revenues of #19.3m for the six months to 30 June 2001.
Tenon’s turnover, since it listed in March 2000, now stands at #58m.
During the first six months of this year, it acquired Scott Oswald, Jennings Johnson, the Godfrey Allan Group, the corporate recovery business of Horwath Clark Whitehill and the non-audit businesses of the Lathams Group. Buckley said the firm planned to acquire firms where it was not already present.
Tenon closes in on top 10 status www.accountancyage.com/Practice/1120581 .