14 Dec 2012

Tenon sales in US rise

9:35 am on 14 December 2012

Listed wood producer Tenon says it has one eye on growing its Australian and Chinese markets, as its key US market slowly recovers.

It says it is seeing light at the end of tunnel after the worst housing crisis in America since the 1930s Depression.

There has been a pick-up since June in commercial and retail sales in the US, the first in several years.

Chief operating officer, Tony Johnston said sales to the professional builder market rose 20%, and increased, though at a lower rate, to the DIY market.

"That's the first significant or measurable increase in six years, so it's been a long time coming,"Mr Johnston said.

But Tenon says the high New Zealand dollar and the USA fiscal cliff remain as headwinds.

Mr Johnston said the firm wants to boost its presence in Australia and China.

The US market makes up about 90% of Tenon's revenue, followed by Australia and China.