Tenet attributed to rise to increased turnover figures within its networks. Its largest brand, investment network TenetConnect, saw a 9% increase, benefitting from the investment in getting firms well prepared for a post-RDR world. Tenet’s non-investment network, TenetLime, enjoyed a 42% increase in turnover supported by a buoyant mortgage market.
Meanwhile, the group’s balance sheet remains strong with £21.7m cash at bank and £28.9m net assets, with no external debt.
Tenet Group chief executive, Martin Greenwood, comments:
“Our latest results reflect a positive transition in a financial year that saw the introduction of the Mortgage Market Review and the embedding of the Retail Distribution Review regime. At a time when many networks are becoming restricted, Tenet continues to support independence, as well as firms who chose to operate a restricted or hybrid model.
"Our on-going financial stability leaves us very well positioned to support our members to take full advantage of the opportunities in the year ahead, including ensuring that end customers get the best outcome in relation to the planned changes to the liberalisation of pensions.”
