Photo by: Duane Daws
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.