12th Jan 2021 17:43
Woodbois Ltd - African timber producer - Says revised revenue target of USD15.0 million for 2020 achieved, though this is down on USD19.5 million in 2019. Fourth quarter revenue of USD3.2 million was "consistent" with the third quarter, company says.
"Despite the backdrop, I am very pleased with the company's performance during 2020. Following the transformational balance sheet restructuring completed in August and its subsequent financial benefits, we have given ourselves a strong platform to build on and we intend to deliver significant growth in 2021," says Executive Chair & Chief Executive Paul Dolan.
Adds that USD2 million of trading inventory was discovered stolen from a third party warehouse in Ivory Coast post period end. Woodbois and police are investigating and the company inteds to "maximise recovery".
Current stock price: 2.9 pence
Year-to-date change: down 9.4%
By Lucy Heming;Â [email protected]
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