Tenon delivers $2m profit in first half, on track for 2016 dividends

Wed, 18 Feb 2015

By Paul McBeth Feb. 18 (BusinessDesk) - Tenon, whose locally produced wood mouldings are sold in the US, turned a first-half profit as an improving US housing market pushed revenue, as forecast by the company, and signalled plans to pay dividends in the 2016 financial year. The Taupo-based company reported a tax-paid profit of US$2 million in the six months ended Dec. 31, compared to a breakeven result a year earlier, it said in a statement. Revenue increased 6.1 percent to US$209 million, with gains largely in the pro-dealer regions it s...

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