Global issues subdue Tenon outlook

The outlook for wood products company Tenon has been dampened by severe winter weather in the United States, unrest in the Middle East and North Africa, and the Japanese earthquake and tsunami.

The company yesterday said it estimated its reported ebitda (earnings before interest, tax, depreciation and amortisation) for the second half of its financial year - the six months to June 30 - would be up or down 15 per cent on the US$4 million ($5.3 million) reported for the six months to December 2010. That estimate was before any positive earnings impact that might result from the revaluation of its remaining forest assets, Tenon said.

The company is listed on the NZX but is based in the US.