13 Feb 2009

Tenon profit down, predicts difficult months ahead

7:27 am on 13 February 2009

Building products firm Tenon expects the next six months to be the most difficult for the sector.

The company's profit has halved to $US1 million in the six months to December compared with the same period the previous year.

It says limited access to mortgage credit has been a massive dampener on housing activity in North America, where it operates.

Tenon says underlying earnings have remained relatively stable.