Tenon sees growth in operating earnings as US housing market starts to recover

Wed, 12 Dec 2012

Dec. 13 (BusinessDesk) – Tenon, the unprofitable wool mouldings company, said operating earnings should rise this year amid signs of recovery in the US housing market. Chairman Luke Moriarty held off on giving specific guidance when he addressed shareholders at their annual meeting in Wellington today, saying “uncontrollables” including a strengthening New Zealand dollar and uncertainty over fiscal cliff negotiations in Washington. “Those issues aside, we do see improved performance from the company moving forward now, as broader market cond...

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