York Timber’s headline earnings per share for the six months to end-December amounted to 10c from 11c in the corresponding period in 2015, the group said on Wednesday. Revenue was up 9% on the back of increased average sales prices, but operating profit was down 4% due to an increase in plywood plant depreciation. Core earnings per share were down 28% but the group said it had cash at the end of the period of R30m. York said it was concerned about the current slow economic growth, which may affect results for the second half of the current financial year. At 4.27pm, York was down 13.33% at R2.86.

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