RSM Tenon reports "flattened" demand
Accountancy firm RSM Tenon has revealed that trading for the year-to-date has been at the lower end of its expectations following "flattened" demand across all areas of the group.
The firm, which has offices in Derby, Leicester and Nottingham, said the economic backdrop remains "difficult" but its mix of services and revenue streams give it "some protection".
The company said it now aims to focus on three areas – reduction of working capital, organic development and cost control.
Andy Raynor, chief executive at RSM Tenon, said: "In markets that are difficult by any standards, we have continued to improve our competitive position whilst prioritising financial control. We are committed to the further hard work that the current environment requires.
"The recent appointment of Adrian Gardner to the position of chief financial officer is a further step forwards in our continuing prioritisation of financial management and communication with shareholders."
In September, the firm reported a 31 per cent jump in its turnover to £249.1m for the year to 30 June 2011 and a 14 per cent hike in its operating profit to £30.1m.
