York Timber reports loss after strikes hurt sales
The forestry company says it imported plywood to service local customers during the industrial action, while harvesting activity either stalled or was scaled back
York Timber Holdings says it slipped into a loss in the six months ended December as sales fell, partly due to employee strikes. The forestry company, which owns plantations and mills, said on Monday it made a net loss of R65m in the interim period, from a profit of R84m a year before. Revenue fell 11% to R800m, it said. York said it had imported plywood to service local customers during the strike, while harvesting activity either stalled or was scaled back. “These operations are scheduled to normalise over the remainder of the financial year,” it said.
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