Rubicon posts flat interim loss

Forestry and biotechnology investor Rubicon has posted a flat interim net loss of US$1m ($1.24m).

Revenue for the six months to December fell 1.5 per cent to US$193m ($240m) and there was no dividend.

In December the company's senior managers said they were swapping salary for shares, which the company said should be seen as a sign of confidence and Rubicon relief from paying its executives.

Rubicon's key assets are its specialty timber concern, Tenon, and a third share in international biotech company ArborGen, which recently ramped up the commercialisation of its fast-growing forestry trees.

Shares in Rubicon were flat today at 90c, compared to a year low of 81c in September last year and a high of $1.10 in July.

- NZPA