Tenon shares soar as mouldings maker flags return to profit on US housing demand

Thu, 30 May 2013

May 30 (BusinessDesk) – Tenon, the wood mouldings company, said it may return to profit this year as a pickup in the US housing market stokes demand for building products. The shares soared 16 percent. Operating profit before finance costs would be between zero and US$1 million in the year ending June 30, from a loss of US$8 million a year earlier, the company said. Earnings before interest, tax, depreciation and amortisation is forecast at US$4 million to US$5 million. The Auckland-based company’s trading performance is closely tied to dema...

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