RSM Tenon

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first_img KCS-content whatsapp RSM Tenon SO far so good. Tenon’s buyout of RSM appears to be having the desired effect, with cost synergies on track to total more than £10m a year. Getting accountants from both companies to gel was always going to be tricky, but the business is performing well. Some government contracts will be chopped come October’s spending review, but RSM Tenon is diversified enough to grow organically elsewhere. Margins are also looking healthy, growing from 11.7 per cent to 12.7 per cent over the year. Shares in the firm have performed well since the merger, rising some 55 per cent since late-June to near 10-month highs. But this stock likely has some way to go. Numis says RSM Tenon is being valued by the market at 6.8 times prospective earnings, compare to a sector average of 9.7 times – even though it is forecast to grow earnings by almost 30 per cent this year. The well-covered dividend is just the icing on the cake. Wednesday 22 September 2010 7:47 pm Share Show Comments ▼ whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more

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