Latest results from TenetLime show headline turnover increased by 48% while earnings saw a 105% increase, supported by strong growth in the mortgage market
Tenet Group as a whole posted a 9% increase in turnover to £136m and earnings increased by 15% to £1.5m, with a 35% increase in the group’s net profit to £472,000.
This was in a year that saw the group continue to invest substantively in its proposition and systems, with £1.7m spent on fixed assets, including investment in a new version of its technology platform, Tenet Advantage, which went live on 11th January.
Meanwhile, the Group’s balance sheet continues to remain robust with £22.3m of cash, no external debt and £29.5m of net assets.
Tenet Group chief executive, Martin Greenwood, said: “Our on-going financial stability ensures that we are well positioned to capitalise on any opportunities that may arise from the Financial Advice Market Review. Supported by continued strong growth in the mortgage market, TenetLime has performed above plan and we are in a great place to grow, enhance its market share and help member firms become even more profitable in the year ahead.
“Above all, our results, market position and success are made possible by the dedication and commitment of the people who make up the Tenet Group and to them, we say a heartfelt ‘thank you’.”
