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York Timbers expects lower full-year profit

York Timbers expects lower full-year profit

Photo by Duane Daws

19th September 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

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JSE-listed York Timber Holdings on Friday said it expected its operating profit for the year ended June 30 to be between 25% and 30% lower than that of the prior year.

As a result of the lower operating profit, combined with a 1% increase in the company’s biological asset value, earnings a share for the period were expected to decline by between 50% and 60% year-on-year.

Similarly, headline earnings a share were also expected to be between 50% and 60% lower than those reported in the prior comparative period.

Meanwhile, York said net cash from operating activities was expected to be between 70% and 75% higher than that of the prior year.

The company would release its full-year financial results by September 30.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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