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Article: Finance week - Unlocking the Vantis/Tenon puzzle. Why is Vantis seeing such impressive share price growth, while Tenon struggles to set the stock market alight? asks Nicholas Neveling.
- Article from:
- Accountancy Age
- Article date:
- January 19, 2006
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The fortunes of AIM-listed accounting firms Tenon and Vantis were pulled in radically opposite directions last week. Vantis continued its love affair with the stock market, while Tenon acknowledged that it may have to go private.
On Wednesday, Vantis reported a 79% increase in turnover to [pounds sterling]33.2m for the six months ended October 2005. The group's share price responded accordingly, rising 6.5p to a high of 226.5p as Vantis' market cap surged past the [pounds sterling]100m mark for the first time.
Two days later, Tenon announced that a team led by chief executive Andy Raynor and FD Lesley Spencer was proposing a management buy-out in an ...