Adviser group Tenet has reported pre-tax profits jumped 32% last year, boosted by the impact a buoyant housing market had on its mortgage business.
Group profits before tax rose to £1.3m for the 12 months to last September, up from £978,353 in the previous period. Profits after tax were £350,000. Turnover was up 6% to £125.2m, driven by better figures from the group's largest brand investment network TenetConnect, and its mortgage and protection network TenetLime. TenetConnect saw a 9% increase in turnover, which the group said was due to its investment in getting firms well prepared for a post-Retail Distribution Review (RDR) world. TenetLime had a 42% increase in turnover as a result of a buoyant mortgage market, the company...
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