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Tenon hails ninth profit rise in a row
ACCOUNTANCY firm Tenon hailed a ninth straight year of profit growth in its full-year results yesterday, as the firm continued to outperform recession-hit rivals.
Andy Raynor, chief executive of the self-styled “adviser to entrepreneurs”, described the profit rise as “an achievement”.
He boosted the firm’s dividend seven per cent to 1.5p a share, as its pre-tax profits rose by 6.7 per cent to £17.6m in the year to the end of June, versus £16.5m the year before.
But revenues at the firm fell to £150.8m compared to £160.3m in the previous year – a fall of six per cent – suggesting it has not evaded the recession completely.
Aim-listed Tenon said its was now the largest bankruptcy specialist in the country.