York Timber benefits from higher prices
York Timber Holdings reported headline earnings per share of 13c for the six months to December‚ unchanged from the previous period.
Revenue was up 5% to R590.70m ‚ driven by higher selling prices for lumber and plywood. But operating profit dipped to R66.70m‚ from R67.33m previously‚ impacted by higher operating costs.
The forestry and pine products manufacturer said the period contained numerous external challenges‚ including a softening market‚ industrial action affecting both log supply and product distribution and various natural disasters.
No interim dividend was declared.
In its outlook‚ the company said despite significant cost pressures from escalations in labour‚ fuel and electricity costs‚ it remained poised to advance its strong market position.
"Alternative marketing channels are being explored and our southern African growth strategy is well underway‚" the company said.
Source: I-Net Bridge
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