Tenon turns profitable on EBITDA basis as US housing recovers, aims to double earnings in 2014

Tue, 27 Aug 2013

Aug. 28 (BusinessDesk) - Tenon, the wood mouldings company controlled by former Fletcher Challenge unit Rubicon, returned to profit on an earnings before interest, tax, depreciation and amortisation basis as the US housing market regathered momentum, and wants to more than double earnings in the coming financial year. The company reported EBITDA of $5 million in the 12 months ended June 30, form an EBITDA-loss of $3 million a year earlier, and at the top of its guidance in May, Tenon said in a statement. The company narrowed its net loss to...

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