Tenon has reported a net loss of NZ$42m for the year ending June 30.
The loss was due to discontinued activities, reorganisation costs and forest revaluation.
Net earnings from continuing actitvities were NZ$34m, up NZ$1m from the previous 12 months.
The company recorded sales of NZ$556m, a 41% growth on last year, with US sales rising 88% to NZ$269m, mostly due to the consolidation of Empire – a US mouldings and millwork business which it has a 67% stake in.
Tenon experienced a strong recovery in the second half of the year in both sales prices and volumes to the US, while the Australasian business also performed well, reflecting a strong NZ housing sector.
Chairman Tony Gibbs said the company was looking to expand its appearance consumer solutions business to a broader range of “appearance grade applications” in North America and Europe.
