leadf
logo-loader
viewWoodbois Limited

Obtala announces first step in expansion of timber trading division

“We expect 2018 to be an exciting year for our timber trading division as we begin to increase our share of the growing African export market,” the company said

Timber
Obtala has been learning how to best drive profitable growth of WoodBois's trading business

Obtala Limited (LON:OBT) has been evaluating WoodBois, the timber trading company it acquired in June, and is now ready to kick-on with its expansion plans.

The African agricultural and forestry company announced earlier this week that it had provided a US$1mln loan to its timber-trading business to augment a trade finance arrangement that is being finalised.

READ: Obtala directors inject US$1mln into timber trading subsidiary​

The company said in a stock market statement on Thursday that additional trade finance is just the first step in unlocking the potential of Obtala’s timber trading division.

Management has also been deepening relationships with key suppliers and trading partners, identifying the most profitable trades and markets to develop to maximize its return on capital.

“We expect 2018 to be an exciting year for our timber trading division as we begin to increase our share of the growing African export market,” the company said.

Quick facts: Woodbois Limited

Price: 2.933 GBX

LSE:WBI
Market: LSE
Market Cap: £41.96 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Woodbois Limited named herein, including the promotion by the Company of Woodbois Limited in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Market report: FTSE falls as northern England prepares for lockdown

FTSE 100 had a lukewarm start as Brexit remains a question mark while trade talks between the UK and the EU are still ongoing. London’s leading index opened 7 points higher at 5,953. Boris Johnson is expected to announce a lockdown on certain areas in northern England as of Monday. Pubs,...

on 8/10/20

2 min read