Cost cut pay off at RSM Tenon


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The Independent Online

The financial services firm RSM Tenon has dramatically reduced its interim loss from £80.7m to £7.8m after a drive to cut costs.

The company reported a 10 per cent decline in revenue to £88.4m in the six months to 31 December but losses declined because operating costs fell by £19.5m to £86.9m.

Tim Ingram, the chairman, said: "The significant progress in turning RSM Tenon around is evidenced by these results. The business is now smaller, better organised and properly managed."