RSM Tenon interim results

Commenting on RSM Tenon interim results, Peter Donnelly, office managing director for RSM Tenon in Bolton and Rochdale, said: “Our interim results for the six months to December 2009, culminating in the merger with RSM Bentley Jennison, have created a superb platform for growth for 2010 and beyond. Integration of our enlarged RSM Tenon business is ahead of original plans in both timescales and cost savings.

“Our Recovery service line has continued to be particularly successful during this period, with turnover up 20 per cent nationally and 27 per cent in the North West. We will continue to expand this service line, maximising the opportunities following the merger, including our increased geographical coverage and the expected rise of the levels of appointments over the next two to three years.

“Pre-merger, the group was already performing well with an operating profit of £8.8m* for this period, which demonstrates the stability of our profit base upon which our business will drive future growth.

“Through scale, geographic reach and breadth of service offering, RSM Tenon is now positioned as the seventh largest accountancy and business advisory firm in the UK. In the North West, we now have seven offices and more than 600 people, which provides a clear opportunity for further margin and revenue enhancement.

“A number of our clients are already benefiting from our association with RSM International, the sixth largest global accounting network, and our increased service strength and diversification. We look forward to building on this platform and realising the growth potential from the merger and our position in the marketplace.“