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RSM Tenon sounds performance warning

RSM Tenon has warned the business may not perform as well as expected due to difficult economic conditions.

At the firm’s AGM today, chief executive Andy Raynor warned the uncertain economic outlook was having an impact on all areas of the business.

He said: “All of our service lines have experienced challenging conditions, adversely impacting year on year trading performance, particularly in transaction-based activities.”

Raynor went on to add staff numbers would continue to be limited over the next six months and confirmed its next scheduled update on financial performance would be its interim results for the six months ended December 31, 2011 due to be published on February 21.

In October, subsidiary RSM Tenon Financial Services changed its name to Lemontree Wealth.

The accountancy and advice firm has a total of 3,137 staff with around 300 advisers.

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