RSM Tenon says year-to-date trading below own view

RSM Tenon Group said today trading for the year-to-date period was at the lower end of its expectations as flattened demand across its service lines coupled with a challenging economic backdrop hurt business activity.

In September, the business adviser, which has five offices across Yorkshire, had reported a better-than-expected adjusted pre-tax profit for the full year, but maintained a cautious stance for the future.

However, RSM Tenon, which competes with business advisory firms like BDO and Grant Thornton, said its current activity levels were largely as expected, helped by opportunities across all its divisions.

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The company now aims to focus on three areas -- reduction of working capital, organic development and cost control -- to increase the percentage of profit to be generated in the second-half of the year.

The firm also said reducing its debt remained a key priority for the year.