Photo by: Duane Daws
Forestry and forest products group York Timbers on Friday said its headline earnings a share (Heps) for the 2013 financial year would be between 19% and 24% lower than that recorded in the previous financial year.
The group expected to report Heps of between 32c and 34c for the year, compared with Heps of 42c in 2012.
The lower earnings were as a result of a lower fair value adjustment than in the previous financial year, as well as a lower gross profit, owing to lower market demand.