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.”