York Timber is going for growth. If its ambitious strategy pays off over the next three years its revenue will jump R700m to R2.5bn and earnings before interest, tax, depreciation and amortisation (Ebitda) will more than double to R500m. York has already shown that it is well on its way. Marking its centenary — and its 70th year as a listed company — in grand style, it turned in a 15% revenue rise and 63% jump in core headline earnings (HEPS) in the 12 months to June. It built on a 27% rise in core HEPS in the previous year. Core HEPS exclude changes in the value of York’s sprawling 57,950ha, primarily pine plantation in the Sabie district of Mpumalanga. Including a R195m value rise to R2.33bn in the latest year, HEPS were up 152%. Though the past two years’ growth has set a high base, York CEO Pieter van Zyl is sure the growth targets set for the next three years will be achieved. Among drivers will be a R340m project to increase plywood production capacity by 70%. "The new capacit...
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