Rubicon turns to full-year profit on Tenon improvement, disappointed at 'moribund' shares

Sun, 30 Aug 2015

By Jonathan Underhill Aug. 31 (BusinessDesk) - Rubicon, the forestry biotech company, returned to full-year profit on a recovery in earnings for Tenon, the wood mouldings company it owns 59.8 percent of, and said it was disappointed that its shares haven't tracked Tenon's higher as a result. Profit was US$3 million in the year ended June 30, from a loss of US$2 million a year earlier, the Auckland-based company said in a statement. Revenue rose to US$406 million from US$396 million. Because of its controlling stake in Tenon, Rubicon co...

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