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Tenet reports pre-tax profits of just over £1m

The Tenet Group has reported pre-tax profits of just over £1m for the 12 months to 30 September 2009.

It reported revenues of £76.4m, with net assets rising from £33m to £34m and cash reserves increasing from £23.7m in 2008 to £28.4m in 2009.

Simon Hudson, chief executive, chief executive of Tenet, says: “2009 was a very challenging year as the group grappled with demanding economic conditions and the debate regarding significant regulatory change.

“The business is well capitalised and carries substantial cash balances to ensure short-term shocks are absorbed, while capital remains available to take advantage of any new opportunities in the future. It is with some confidence that we look forward to the opportunities and challenges of 2010.”


Where there’s a will there’s a way

It is interesting to see how many traditional mortgage brokers are still looking at diversifying and finally increasing the levels of cross-sales that, let’s face it, we should all have been doing anyway – the best time to fix the roof is always when the sun is shining.

Santander considering UK flotation

Santander is reportedly considering a flotation of its operations in the UK to raise money to fund the Spanish bank’s expansion plans.

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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