York expects 425% rise in H1 earnings
York Timbers expects its earnings a share and headline earnings a share for the six months ended December 31 to jump by between 425% and 445% to between 21c and 21.8c.
Operating profit was likely to be between 55% and 65% higher than that reported for the first six months of the prior financial year.
In contrast, net cash flow from operating activities was likely to drop by between 95% and 105%, owing mainly to the timing of purchases of imported plywood.
York added that the company’s biological asset valuation at the end of 2014 had exceeded that of the prior year.
The company was expected to release its interim results on March 31.
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