Horsforth’s Tenet Group reports fourth consecutive year of growth as profits rise by 24%

Tenet Group, the Horsforth-based adviser support company, has experienced its fourth consecutive year of profit growth in its annual report for the twelve months to 30th September 2016.

The group’s turnover increased by 13% to £154m with earnings of £1.5m, resulting in a 24% rise of the its net profit to £584k.

Tenet Group continues to invest in its infrastructure, with £1.3m spent on fixed assets, whilst retaining £22.7m of cash on its balance sheet, with no external debt and £30.1m of net assets.

Martin Green, Tenet Group chief executive, said: “During a year of political surprises, uncertainty around MiFID II and changes within regulatory capital rules, we have been very pleased to deliver ahead of our financial plan.

We’ve now posted our fourth consecutive year of profit growth and are continuing to invest in the future, supporting advisers to choose the right advice model and regulatory status for them and their clients.“