Tenet Group has reported a year of improved financial performance in its annual report and accounts for the 12 months to 30 September 2011.
The Leeds-based adviser support group reported an increase in overall sales of 9.2% to £86.4 million, with the on-going investment into services and support structures producing an increased operating profit of £1.27 million.
After taking account of non-recurring costs associated with group reorganisation, the loss before tax improved to £300,000.
Martin Greenwood, interim CEO, said: “Tenet has made notable progress in a year of continued adverse economic conditions and the specific challenges brought about by the approaching implementation of the RDR.