YORK TIMBER HOLDINGS LIMITED - Trading statement and trading update

Release Date: 21/02/2018 09:00
Code(s): YRK
Wrap Text
Trading statement and trading update

York Timber Holdings Limited
Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
(“York” or “the Company”)


York is in the process of finalising its results for the six
months ended 31 December 2017 for release prior to
31 March 2018.

In terms of paragraph 3.4(b) of the Listings Requirements of
the JSE Limited, companies are required to publish a trading
statement as soon as they are satisfied that a reasonable
degree of certainty exists that the financial results for the
period to be reported upon next will differ by at least 20%
from the previous corresponding period.

Shareholders are advised that earnings per share (“EPS”) and
headline earnings per share (“HEPS”) are expected to increase
from 10.0 cents to between 27.8 cents and 28.3 cents, for the
period ended 31 December 2017.

Furthermore, Shareholders are advised that:

-   The biological asset valuation at 31 December 2017 is
    likely to be between 20% and 25% higher than the balance
    of R2.3 billion at the previous corresponding period. This
    increase in value includes an adjustment relating to new
    regimes implemented in the Highveld region. The higher
    plantation value also reflects the benefits of precision
    forestry and improved planting material.

-   Core earnings per share (based on EPS attributable to
    ordinary shareholders less the fair value adjustment to
    the biological assets, net of tax) are expected to increase
    from 7.0 cents to between 10.6 cents and 11.0 cents. This
    is as a result of an increase in operating profit due to
    a reduction in external log purchases.

-   Earnings   before   interest,   taxation,   depreciation,
    amortisation and fair value adjustments is expected to be
   between 13% and 18% higher than the previous corresponding
   period of R109.4 million.

Shareholders are advised that the information included in
this announcement has not been reviewed or reported on by the
Company’s auditors and is the responsibility of the directors
of the Company.

Sabie, Mpumalanga
21 February 2018

One Capital

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