Tenon Limited reported audited consolidated earnings results for the year ended June 30, 2015. For the period, the company's revenue was $406 million compared with $396 million a year ago. Operating profit before financing costs was $10 million compared with $7 million a year ago. Profit before taxation was $6 million compared with $3 million a year ago. Net profit after taxation was $6 million compared with $2 million a year ago. Basic and diluted net earnings per share were 9.9 cents compared with 2.4 cents a year ago. Net cash from operating activities was $2 million compared with $6 million a year ago. Purchased of fixed assets was $6 million compared with $2 million a year ago. EBITDA was $13 million against $11 million a year ago. EBITDA rose 18% includes $3 million in an extensive upgrade programme to circa 500 US retail stores (with some 200 remaining). The negative impact of the US West coast port strike. Earnings foregone from severe US winter storms. Costs associated with the now completed US distribution business restructuring and An average effective exchange rate.

The company expects EBITDA to increase again in fiscal 2016. In this respect the company are internally targeting EBITDA in excess of $20 million for fiscal 2016 (excluding FX gains /losses), the company reiterate mid-cycle EBITDA guidance of circa $50 million.