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Woodbois forecasts annual loss as revenue falls 22%

By BFN News | 10:07 AM | Wednesday 07 April, 2021


African-focused forestry and timber trading company Woodbois forecast a full-year adjusted loss amid a 22% slump in revenue. Adjusted losses at the earnings before interest, tax, depreciation and amortisation level for the year through December were seen at $1.7 million, versus a year-on-year loss of $1.9 million. Revenue had fallen to $15.3 million, largely due to the impact of Covid-19. Woodbois said its revenue in the first quarter of 2021 had risen 44% compared to the fourth quarter of 2020, to $4.6 million. 'Despite the continued proliferation of Covid-19 and the subsequently challenging global economic environment, Woodbois expects to turn cashflow positive and to deliver record revenues during 2021,' it added. At 10:07am: (LON:WBI) share price was 0p at 2.3p Story provided by StockMarketWire.com

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