York Timbers blames bad full-year results on Numsa strike
The forestry company says revenue took a R225m hit, with Ebitda down R131m
Listed forestry company York Timbers Holdings has blamed an employee strike for its poor full-year results, saying it lost 239 production days as a result of the industrial action.
The company, which owns plantations and mills, said on Monday the impact of National Union of Metalworkers of SA’s (Numsa’s) protracted strike on revenue was R225m. Impact on earnings before interest, tax, depreciation and amortisation (Ebitda) was R131m...