9th Jun 2023 12:09
Woodbois Ltd - Africa-focused forestry, timber and afforestation company - Posts revenue of USD23.1 million for 2022, up 32% from USD17.5 million in 2021. Says increased levels of production at both factories in Gabon have resulted in a revenue increase of 32% to USD23.1 million and a 69% rise in gross profit to USD5.9 million. Swings to a pretax loss of USD158,867 from a profit of USD90,702 a year earlier. Looking ahead, expects revenue in the first half of 2023 to be lower than had previously been expected after a difficult first quarter in 2023.
Chief Executive Officer Paul Dolan says: "Our financial and operational results for 2022 clearly point to the growth potential of the group, with an [earnings before interest, tax, depreciation and amortization] for the year of USD3.3 million."
Current stock price: 0.45 pence each, up 7.2% on Friday afternoon in London.
12-month change: down 93%
By Xindi Wei, Alliance News reporter
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