euro adhoc: Precious Woods Holding Ltd.
quarterly or semiannual financial
statement
Strong sales growth and positive profit trend continue at Precious
Woods
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
quaterly report
20.11.2007
In the first 9 months of 2007, Precious Woods grew net sales of timber and electricity by 85% from USD 32.0 million to USD 59.1 million compared to the same period of the prior year. Profit from operating activities increased from USD 2.4 million to USD 6.9 million and net income from USD 2.3 million to USD 6.6 million. The figures are only conditionally comparable, as prior year results were impacted by one-off charges in Brazilian operations as well as the retroactive issuance and sale of certified emissions rights accumulated in preceding years. In addition, Precious Woods acquired two companies in Gabon in April 2007 now driving a significant share of the top line growth.
Precious Woods Nicaragua achieved FSC certification in the past days. As a result, all Latin American operations of Precious Woods are now certified according to the criteria of the Forest Stewardship Council (FSC). FSC certification attests that a company complies with high standards set for the ecological and social aspects of sustainable forest management. In the current year, the Group´s forestry company in Gabon which has already been certified under another system has launched a program to achieve FSC certification.
Precious Woods is an international company active in the sustainable management and use of tropical forests. The company's core activities include reforestation and sustainable management of tropical forests, timber processing and the trading of FSC-certified timber products. The generation of emission rights and electricity from recovery wood represent further integral elements of the company's business. The shares of Precious Woods Holding have been traded on the SWX Swiss Exchange since March 2002. Further information about Precious Woods is available at www.preciouswoods.com.
end of announcement euro adhoc 20.11.2007 07:00:00
Kontakt:
Precious Woods Holding AG, Zug
Dr. Ted Scheidegger, CFO
Tel. +41 44 245 80 10
mailto:office@preciouswoods.com
Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SWX Swiss Exchange / official dealing