York Timbers expects lower full-year profit

JSE-listed York Timber Holdings on Friday said it expected its operating profit for the year ended June 30 to be between 25% and 30% lower than that of the prior year. As a result of the lower operating profit, combined with a 1% increase in the company’s biological asset value, earnings a share for the period were expected to decline by between 50% and 60% year-on-year.