Tenon trims Clearwood FY earnings guidance to US$10.5M to reflect FX movements, corporate costs

Fri, 03 Feb 2017

By Jonathan Underhill Feb. 3 (BusinessDesk) - Tenon, which sold its US operations for US$110 million last year, has revised full-year guidance for its remaining Clearwood New Zealand business to reflect foreign exchange movements, Tenon corporate costs and changes in product mix. Earnings before interest, tax, depreciation and amortisation for the year ending June 30 was lowered to US$10.5 million from the US$11.8 million in a Grant Samuel report last October, the Taupo-based company said in a statement. Shareholders approved the sale...

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