Tenon experiences tough conditions

Tenon, the former Fletcher Challenge Forests, has reported operating earnings of US$4 million (NZ$5.4 million) in the six months to December 31, down from US$5 million in the same period last year.

Revenue of US$162 million was up from US$159 million last year.

The company said operating conditions were tougher than expected. It cited a strong exchange rate, declining moulding and better lumber prices, high domestic log prices and low demand as factors.

The company's secured debt facility expires in June 2012 and this year it will consider how to structure funding for future growth.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

CDC Independent Valuation - 30 June 2025
TruScreen Group Limited SPP Update
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report