York Timbers stock leaps on expectations that earnings doubled
YORK Timbers’ share price jumped 24% to R3.05 on Friday after it said it expected to report earnings more than doubled.
York said it expected to report on September 30 that its headline earnings per share (HEPS) for the year to end-June grew between 149% and 154% from the prior year’s 29c.
Operating profit is likely to be between 25% and 30% higher than that reported for the comparative period, York said in its trading statement.
Net cash flow from operating activities is likely to be between R100m and R110m higher than that reported for the previous year.
Its biological asset valuation at June 30 is likely to be between 8% and 11% higher than that reported for the comparative period.
At the end of December, York reported its net asset value per share was R7.59 — indicating it is trading at only about 40% of its book value.