The revival at
accounting firm Tenon continued today as the group revealed that it was trading
well ahead of forecasts for the six months to the end of December 2006.
Tenon has enjoyed a remarkable turnaround in fortunes over the last 12
months, and the latest news from the company will add further momentum to the
In it trading update
Tenon said: ‘All
business lines have continued to make good progress, with performance well ahead
of the corresponding prior year period and in line with current expectations for
the full year.’
The group’s share price soared 4.39% to 53.5p following the news. Since May
last year Tenon’s stock has rocketed from 19.5p to comfortably over 50p per
share as the group bounced back from a difficult period.
At one stage, Tenon’s board was conducting a strategic review and considering
a sale of the business, but since the appointment of well-known share activist
Morton as chairman Tenon shares have been galvanised.
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