RSM Tenon's financial management division's 'heightened relationship' with the Financial Services Authority (FSA) has been downgraded after making '"major progress", according to the group's interim results.
It said removal of heightened supervision meant it would give the business more time to focus on commercial trading. However, the business said its results for 1 July to 19 November were the lowest of the year so far. The results said: "The market for our services continues to be challenging. As a result, turnover has been at the lower end of management's expectations. "However, 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 ...
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