Rubicon returns to profit as Tenon rides US housing rebound, ArborGen rejigs R and D

Wed, 28 Aug 2013

Aug. 29 (BusinessDesk) - Rubicon, the forestry biotech company spun out of Fletcher Challenge, returned to profit on an earnings before interest, tax, depreciation and amortisation basis after its Tenon unit rode the coat-tails of a resurgent US housing market, and its ArborGen joint venture refocused its research and development programme. The Auckland-based company reported EBITDA of US$3 million in the 12 months ended June 30, from an EBITDA loss of $5 million a year earlier, it said in a statement. The net loss narrowed to US$6 million f...

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