RSM Tenon produces uninspiring first quarter

Accountancy firm RSM Tenon's first quarter has seen turnover at the lower end of management expectations although it said that profitability is still ahead of the comparable period last year.

Accountancy firm RSM Tenon's first quarter has seen turnover at the lower end of management expectations although it said that profitability is still ahead of the comparable period last year.

In what is traditionally the quietest quarter of its year only the most optimistic would have expected much progress in turning its business around. That said, in a statement covering the first quarter ending November 19th, the company said: "...with a continued focus on careful management of costs and as a result of the cost reduction exercise undertaken earlier this calendar year, the profitability of the group is ahead of the comparable position in the prior year and in line with management expectations."

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