RSM Tenon Group Plc (TNO.L) announced its trading update, funding position and board changes. The company now expects six-month revenue to be nearly 10 percent lower than last year.
Due to the proportion of costs that are fixed, RSM Tenon anticipate that it would record a loss before tax and amortisation of acquired intangibles, deferred consideration interest and exceptional items and the magnitude of this loss would be quantified once it complete the interim accounts and associated auditor's review.
Though the review is incomplete, the Group currently projects second-half revenue to be comparable to that generated in the second half of the financial year ended on 30 June 2011. Further, the board plans to instigate the necessary actions to improve the company's performance.
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