Tenon leaves tough times behind

摘要

Tenon Group plc, the AIM-listed group created by the acquisition and consolidation of accountancy practices, has confirmed its strengthening position with annual results showing a growth in turnover of 26% to £99.4m. This figure does, however, include for the first time the £10m audit of Tenon Audit, its 'arm's-length'auditing entity. Removing this reduces the group's total turnover growth to 15%. Profits are up 24%, indicating that the group's struggles a few years ago are being left well -behind. 'Our tough patch was really 2002,' says Tenon CEO Andy Raynor.'But 2003 was really a year of re-creation, and 2004 then showed some of the things we could do.