RSM Tenon Share Discussion Threads

[jeff h] 09/3/2007 12:24

Numis moved to Buy from Add with a 76p price target

[23wizard] 09/3/2007 11:16

I fully understand Mannequins slight concerns, however management now seem to have a firm grasp on finances with margins an obvious priority with cost cutting. All too often we see companies expanding quickly taking a large drop in profits for the next year or so, here I feel the turnover is increasing greatly but profit growth is exceeding this. If the t/o does drop slightly but the profits are still advancing then I would like to think the market would see this as the well monitored co. with a great future. Tenon has been overlooked for some time now but eventually someone will take notice of this.

[keybox] 09/3/2007 11:03

I know that staff are being taken on to meet the increased demands in the North

[0rb1t] 09/3/2007 10:18

To make a statement "We are confident of meeting expectations for the year" at the interims leads me to believe that H2 profits are coming from guaranteed revenue. H2 must have started well also. Even though they comment that TO will be down in H2, this still leaves scope for TNO to exceed market expectations IMO.

[mannequin] 09/3/2007 09:50

I have just one slight concern.
Does anyone have any idea what these sales "initiatives" were/are ?

By saying "our turnover this year will therefore be weighted towards the first half" they seem to be implying that it was a one off deal which ran for the 12 months that covered the last two half years.

If this is the case then as these initiatives "have a comparatively high turnover and direct cost" we could see a sharp drop in turnover and a small drop in profits next time around.
In addition the accrued costs of these initiatives will have to be paid and so net debt will go back to around the £20m mark.

I don't see this as a major problem in terms of the overall company but these headline numbers are all a lot of people look at and it could spook the market in 6 or, more likely, 12 months time.

Anyone got more info ?
Luck to all
M

[its the oxman] 09/3/2007 09:07

wider market holding us back but still hoping for 70p near term and more as prospects look rosy

[its the oxman] 09/3/2007 07:59

results look very good to me on first read

[jeff h] 09/3/2007 07:58

"our second half performance is traditionally higher margin"

Add to that the brilliant cashflow reducing the net interest charge, the full year looking very healthy.

[23wizard] 09/3/2007 07:54

Nice to see the turnover well up but more importantly the profit margins on that, increasing even more. Looks like they've finally got a grip on this.

[keybox] 09/3/2007 07:39

Tenon Group H1 pre-ex pretax up sharply; confident of meeting FY expectations


LONDON (AFX) - Tenon Group PLC, a provider of advisory services to
entrepreneurs, saw a 71 pct surge in its first-half pretax profit before
exceptional items, with improvements in contribution from all its services, and
said it is confident of meeting expectations for the year.
Its pretax profit before exceptional items was 5.1 mln stg, compared with
1.9 mln stg last year, as turnover rose 42 pct to 74.1 mln stg from 52.1 mln
stg.
"We intend to advance the business through the development of our services,
the recruitment of teams, exploration of acquisitions and the creation of new
trading relationships. We are confident of meeting expectations for the year,"
chief executive Andy Raynor said in a statement.
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[keybox] 09/3/2007 07:14

Fantastic Interims

[santangello] 08/3/2007 20:52

Hope that 320k was a buy, pre-results....I'd guess it was with the price reaction today.
Bring on the results tomorrow...

[23wizard] 08/3/2007 15:10

This is more like it, good steady buys.

[23wizard] 07/3/2007 09:08

Nice find Jeff, looks like expansion is still continuing, bodes well.

[jeff h] 07/3/2007 08:47

Despite the recent share price drop positive news on the trading front:-



Tenon Recovery expand along the south coast

Tenon Recovery, the sixth largest Recovery and Insolvency firm has further increased its presence along the south coast with an office in Portsmouth.

The new office will open on 1 March 2007, with a launch party planned on 18 April 2007 at Spinnaker Tower.

The office will be headed up by Nigel Fox and Carl Jackson, both directors of Recovery. They will be supported by Kelly Browne, Manager, together with a number of other experienced staff. Nigel said "I am looking forward to helping those in the Portsmouth area who have financial difficulties".

Carl Jackson, Director of Tenon Recovery said "we are really excited to be increasing our presence along the south coast. The new office will further enhance our existing services and offer opportunities in the Portsmouth area".

=============================================================================


Tenon on move as workforce increases
TENON, the accountants and business services advisers, is planning to grow the number of its Edinburgh-based staff by around a third over the next 18 months.

The group, which specialises in work for entrepreneurs and owner-managed businesses, currently employs 70 of its 256 Scottish staff in the Capital but plans to boost that to around 100.

And to accommodate the move, the business, currently based in Royal Terrace, has signed a ten-year deal to lease space at the OneSixty building at Fountainbridge. Halladale, OneSixty's owners said the deal worked out at £20 per square foot for the office space. Margaret Bell, office managing director in Edinburgh, said the move took the group closer to the Capital's business and financial communities at the West End.

"The relocation of our Edinburgh office is great news for our business" said she said. "We now need a modern, flexible building that provides our staff and clients with a high quality environment in which to work and do business."

Tenon's Edinburgh office has recently welcomed two new directors and has accommodated the launch of a new professional practices division, which will provide accountancy services to professionals such as doctors, dentists and lawyers.

This article:

[its the oxman] 06/3/2007 16:04

yep, not sure myself - selling volume is not large so not overly worried - but frustrating to see it drifting as buyers wait to see the results perhaps - could be good opportunity to top up but i have enough already now.

[23wizard] 06/3/2007 15:20

Oxman
Being the untrusting person that I am I was wondering if some info to our detriment had been leaked, that saying if that was the case I would have thought there would have been a lot more selling. I just feel this is slipping too far for no reason, I expected the bounce at 60p. Strange!

[its the oxman] 06/3/2007 14:50

not liking this fall now - i see numis forecast 9/1/07 11.1m and 4.7p eps 2007 and then 12.3m 5.2p eps 2008 - we shall see soon enough

[23wizard] 06/3/2007 11:08

I just hope this is being edged down to fill pre results buying, drop seems over done even in this uncertain market.

[santangello] 01/3/2007 20:53

Not often the MMs get their fingers burned.......them buys around 62.5p (ouch) or are they tucking them away pre-results?

[its the oxman] 01/3/2007 13:35

looks like our nice little rise is getting nobbled by the wider market fall now

[its the oxman] 01/3/2007 10:30

encouraging to see this bounce back quickly - now 63p

[santangello] 01/3/2007 09:21

You were not alone.....

[chester] 01/3/2007 08:57

I've bought a few this morning.