its in an upward trend expect around 50+ in short term
it is a divident paying company and has show very good growth

do research before you do anything

Any particular reason? I thought this was meant to be one of the safer ones along with BEG? I don't hold at present, but watch both of them for possible entry point.

HARRYCAT----I've not seen anything, I did hold earlier this year but sold at a small profit, like you I watch BEG (well off their year high) as well as TNO, and this is supposed to be their sort of environment so the sp should be going the other way.
2517

My guess is that this is only going to attract any interest when results are due to be released. There doesn't seem to be any news otherwise which will make this more attractive to investors. BEG seems to be the safer bet, imo.

There has been more selling this week, but I can't find out why, as mentioned before this company should do very well in this economic climate. They were tipped in the IC today as a buy at 51p, so this must be the reason. lol.

Begbies trading statement today states that Corporate finance division operating losses in the first half at 1.0 million pounds, significantly worse than earlier expectations.

Tenon's Corporate Finance position is 7% of company, the other divisions are as follows.

Personal Financial advice = 33%
Business taxation and advisory = 23%
Turnaround and recovery = 19% *
Accounts and Audit = 12%
Corporate Finance = 7 %
Outsourcing = 6 %

* Turnaround and recovery could be 25% + of business now.

Bob Morton increasing his stake in TNO.

sp looks way oversold for a business thriving on the increasing insolvencies.

Highly cash generative as well.

Agree it looks very oversold, I should have sold weeks ago at my stop/loss, but human nature being what it is !

New years resolution - Always sell at stop/loss and be happy too.

managed a small top up at 37p, will add a few more if it dips again.

Only 20% of TNO revenue comes from insolvency work, so although that part of the business is forecast to grow in 2009, the rest, including accounting, business services & speciality financing may not be so good.

looked a bit stronger today, plenty of buys as well.

At least you are in good company, Bob Morton Chairman brought 250.000 at 36.25p he should know a undervalued share price. If nothing else it gives you a great place to set the stop/loss.

Not sure what has caused all the buying, maybe they have had a mention somewhere.

can't see any press related mentions.

It'll be interesting to see if the sp. falls back on Monday, I have a suspicion it might.

The market was expecting some selling pressure today, and marked TNO down 0.75p before open. But instead we have some healthy buying again, up 6% to 48.75p.

There is no doubt that parts of the business have slowed, Begbies last trading said that Corporate Finance had almost stopped in the last 2 month's, fortunately TNO have only 7% exposure to this. And I would expect them to re-deploy staff to Business Recovery, to make up for shortfall elsewhere.

Should see a good bounce today, as this is the only positve trading update I can find today. See below............

Tenon Group PLC, the AIM quoted advisers to entrepreneurs, will announce its
results for the 6 months ended 31 December 2008 on 18 March 2009.

The Group has continued to perform in line with expectations and prospects
remain encouraging for our broadly based business.

Excellent growth has been generated in our Recovery and related service lines.
We expect the phasing of the downturn in the economy to continue to benefit
these services and compensate for the effects upon parts of our corporate
finance and financial services activities.

Cash management performance continues to be strong. Investments in the growth of Recovery, working capital and in debtor payment periods have been carefully
controlled. Building on the success of our earlier benchmarking initiatives,
further efficiency measures are currently being implemented and will result in
an improved cost base.

Chief Executive, Andy Raynor said:

"Tenon continues to thrive by providing services that are relevant to all
economic circumstances, that are in demand and that are of high value. This is a
firm base from which to make further progress."

Profit warning.

A business run by Chartered Acountants; what a disgrace. More bad news to come but Morton stays on. Will he repay his fee and what about Raynor. Accounts to be restated..........Heard it all before. How can you respect people who treat shareholders with contempt.

..RSM Tenon shares plunge 29pc on profits warning

By Helia Ebrahimi | Telegraph – 48 minutes ago
......
Troubled auditor RSM Tenon faces a crisis after a profit warning drove its shares down 29pc - leaving investors calling for an emergency rights issue.

RSM on Monday saw the resignations of Andy Raynor, chief executive, and, Bob Morton, chairman, as the firm revealed it may have to restate its accounts. Mr Morton, who holds 8pc of the firm, will stay on as an independent director.

The news led Crispen Odey RSM's second-largest shareholder to attack events at the business as "shocking". He added RSM had been a company that was "out of control" and now in need of £15m of new equity.

RSM, which has 50,000 customers including the British Government, now faces a potential covenant breach over its £88m debt pile. It has also launched a full review into how accounts misjudged its debts and credits, leaving it on alert to swing from a £6m profit to a possible £10m loss.

The fall in the shares, which closed at a nine-year low of 5.88p, mean RSM now has a market value of less than a quarter of its debts. The company said it was in talks with lenders Lloyds Banking Group (LSE: LLOY.L - news) over restructuring its loans.

Adrian Martin, who was promoted to executive chairman from a non-exec role, said the board could not allow the situation to continue deteriorating and were forced to push for changes. Mr Martin is a former managing partner of rival BDO-Stoy Hayward, and has already enlisted former colleague Jeremy Newman as a consultant to help the business recover.

Adrian Gardner, who was brought in as finance director in October in the first wave of the shake-up, said financial assumptions at RSM had been "too stretchy".

Revenue is expected to be down 10pc from £240m, said Mr Gardner, who added this did not include any re-calculations on prior assumptions in the 2011 accounts.

RSM, an “award winning company” that operates across audit, advisory, risk and financial management, could now be vulnerable to clients moving firms. RSM has been a strong advocate for new regulation to challenge the dominance of the Big Four auditors. But according to a rival accountancy company, “today’s news is likely to confirm companies’ faith in the bigger firms”.

Mr Martin strongly denied this - insisting there was no read-across in clients’ faith in RSM’s work and the firm’s management of its own accounts and risks.

RSM pays £4m of interest a year and has a debt-to-earnings covenant that prevents it from having more than three times leverage. In July the company also has to pay back part of its overdraft and long term loans - meaning a reduction of £38m at the end of June.

“RSM used to be a series of partnerships,” said Mr Odey. “These partnerships cared about costs. When they went, people went soft on costs and made questionable acquisitions. There is no reason why a company with £245m of sales shouldn’t make margins of 10pc