RSM Tenon hikes dividend as profit rises

first_imgWednesday 22 September 2010 3:21 am John Dunne whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp RSM Tenon hikes dividend as profit rises Share Show Comments ▼ British business adviser RSM Tenon Group posted a 37 per cent increase in full-year adjusted pretax profit, boosted by acquisition of RSM Bentley Jennison and certain assets of troubled peer Vantis.The accountancy and advisory firm said it raised dividend by seven per cent to 1.6 pence per share.“Organic sales growth and margin improvements are now our key aims for 2011 and 2012,” the company said in a statement.The company, which moved to London’s main market in May, said July-June adjusted pretax profit was £24.1m ($37.74m), up from £17.6m a year ago.Turnover rose 26 per cent to £190.4m.The company bought professional services firm RSM Bentley Jennison for about £76m in December 2009 and some assets of Vantis for up to £6.8m in June.Net debt at June end rose by £22m to £43.1m from a year ago.RSM Tenon said it increased the bank facilities by a net of £36.5m to £80.5m in the year.Chief executive Andy Raynor said business secretary Vince Cable was not doing enough to promote commerce in the UK. He said: “Vince Cable has made academic comments about business and competition. We want someone who is more pragmatic.” Tags: NULLlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *