30 Aug 2013

Rubicon halves annual loss to $US6m

7:48 am on 30 August 2013

Rubicon has halved its annual loss to $US6 million from $US12 million last year reflecting better results from its 59% owned wooden building products company, Tenon, and from its nearly 32% owned biotech company, Arborgen.

On Wednesday, Tenon reported that its net loss for the 12 months to the end of June narrowed to $US3 million from the previous year's $US9 million loss.

Rubicon said Arborgen's sales rose 14% to $US30 million and it chalked up $US8 million in operating earnings.