Top 60 firms survey - Top 60 firms: The risers and fallers
Entertaining as it is to highlight the firms with the best and worst performance of the year, it is only fair to point out that many of the results are distorted by acquisition and disposal activity. Tenon's spectacular growth rate, for instance, hides a less impressive story. The financial difficulties suffered by the consolidator over the past 12 months have been well-documented. The group acquired 14 businesses in 2000 and 2001 - which explains much of the increase in its fee income - but integration proved more complicated than expected.