TenetLime increases turnover by 25%

Michael Lloyd

March 22, 2019

Mortgage and protection network TenetLime has increased its turnover by 25.6% to £63m in the 12 months to 30 September 2018.

This follows a 25% increase in turnover in its previous financial year to £50m.

Simon Broadley, TenetLime managing director, said: “TenetLime remains a real success story, underpinned by a 13% growth in adviser numbers.

“We continue to evolve in partnership with our members, which over the past year has included the launch of an ongoing compliance transformation programme, a new partnership with Twenty7Tec for mortgage sourcing and launching with 10 new lenders, to ensure we continue to service all consumer needs.”

Parent group Tenet Group increased its earnings by 13% to £2.5m before tax and interest, with headline turnover at £167.8m and profit before tax at £1.6m.

The group’s investment network, TenetConnect, increased earnings to £500,000 in 2018 from a loss of £300,000 in 2017.

And TenetSelect, the group’s directly authorised proposition, increased its profit before tax by £100,000.

The group’s balance sheet continues to remain extremely robust with £26.1m of cash, no external debt and £31.6m of net assets.

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