Tenet reveals post-RDR net profit of £300k

This compares to a loss of £4.5m for the same period in 2012. That loss came after the network made a £4.5m provision for claims relating to Arch Cru and Keydata. However, this year's results are more positive with earnings at £1m, up from £249,000 in 2012. Group revenue increased by 22% to £118m, and gross profit was up by 7% to £19.2m. The group said it has a significant war chest of £23.6m cash in the bank, £28.6m of net assets and no external debt. Its largest brand, investment network TenetConnect, has achieved a "good level" of organic growth, the group said, despite losing s...