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:

HGH Ltd Results for the 6 months ended 1 February 2026
March 27th Morning Report
CDC investor presentation and guidance update
PFI - Potential Bond Offer by PFI
MCY - Mercury Green Bond offer - interest rate set
March 25th Morning Report
AFT - Chief Financial Officer update
KMD Brands: Response to Stokehouse transaction concept
March 24th Morning Report
MCY - Mercury launches retail Green Bond offer