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. <br /><br />Andy Raynor, chief executive of the self-styled &ldquo;adviser to entrepreneurs&rdquo;, described the profit rise as &ldquo;an achievement&rdquo;. <br /><br />He boosted the firm&rsquo;s dividend seven per cent to 1.5p a share, as its pre-tax profits rose by 6.7 per cent to &pound;17.6m in the year to the end of June, versus &pound;16.5m the year before.<br /><br />But revenues at the firm fell to &pound;150.8m compared to &pound;160.3m in the previous year &ndash; a fall of six per cent &ndash; suggesting it has not evaded the recession completely. <br /><br />Aim-listed Tenon said its was now the largest bankruptcy specialist in the country.