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September 13, 2011

RSM Tenon reports 31% increase in turnover

RSM Tenon’s revenue has increased by 31% to £249m ($394m) in the year to 30 June 2011 from £190m in 2010.

RSM underlying profit, before amortisation of acquired intangibles, deferred consideration interest and exceptional items, increased by 14% to £30m.

Profits before tax also increased by 12% to £27m as did its statutory operating profit by 57% to £14m.

RSM Tenon reported the firms adjusted basic earnings per share as 6.45p at year-end.

The firm said a reduced dividend of 0.55p per share allowed them to preserve resources in an unpredictable business environment.

“The general economic climate is creating a business environment which is difficult to predict. However, our balanced profile of services allows us to focus on organic development, improving returns and reducing net debt. By maintaining our prudent stance we look forward to further progress,” RSM chief executive Andy Raynor said.

In the coming year the firm plans to focus on driving organic development.


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