Tenon profit slashed

Tenon, a supplier of wood mouldings to the US housing market, has reported a nil bottom line profit in the year to June 30.

This compares with a US$3 million ($4.3 million) profit in the same period last year.

Earnings before interest, tax, depreciation and amortisation of US$10 million were down from US$16 million and were within a signalled range.

The company is the former Fletcher Challenge Forests minus the forest estate.

- NZPA