25 Feb 2013

Rubicon reduces osses

7:06 am on 25 February 2013

Rubicon has reduced its losses to $US2 million in the six months to December, compared with $8 million in the same period a year ago.

Revenue rose 7% to $174 million due to an improvement at Tenon, a wood mouldings firm, in which it owns a majority stake and a broader recovery in the US housing market should be reflected in its earnings over the year.

Rubicon also has a third stake in ArborGen, a forestry biotechnology firm.