War in Ukraine opens door for TWK Investments in Europe
The agriculture and forestry company has delivered strong results boosted by wood chip demand
10 November 2022 - 07:59
Diversified agriculture and forestry company TWK Investments cashed in on a gap in the market left by the war in Ukraine as it grew its exports, particularly of wood chips, as European countries look for alternative sources for timber to Russia.
Revenue from the timber segment, which accounts for more than one-fifth of total revenue, increased 16.7% to R1.88bn, the company said on Wednesday in its 2022 results to end-August. This increase was largely driven by the performance in wood chip exports, lumber and treated pole products, and timber sales...
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