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Woodbois turns profitable; 2022 trading remains ahead of 2021
2021 was "another year of solid, demonstrable progress for the group"
Company
Woodbois Ltd
LON:OBT
Woodbois Ltd is an African-focused forestry company, divided into three distinct, but highly complementary divisions comprising the production and supply of sustainable African hardwood products, the trading of hardwood and hardwood products, and a reforestation and carbon credit division. The company's forestry division has production facilities in Gabon and Mozambique, managing a total of c470,000 hectares of natural forest concessions.
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Woodbois confident of ‘materially’ higher revenue and profit but shipping delays set to continue
The Africa-focused forestry company said growth will be lower than previously expected due to ongoing shipping delays and container disruptions
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Woodbois joins the Circular Bioeconomy Alliance
The Africa-focused forestry and carbon credit company said the members of the alliance "share a common goal to move away from a traditional linear fossil-fuel based economy, towards a sustainable circular bioeconomy"
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Woodbois attends COP26 in Glasgow as part of Government of Gabon envoy
"While the final outcome from COP26 currently remains in the balance, what has been clearly evident throughout the conference is the willingness of the private sector to mobilise capital for nature-based solutions in order to address global
Proactive news headlines: Woodbois, Seraphim Space, Pembridge Resources...
A glance at some of the day's highlights from the Proactive Investors newswire
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Woodbois appoints former LafargeHolcim and Compass director as chief executive
Paul Dolan will take the position of executive chair
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Woodbois appoints David Rothschild as new non-executive director
Rothschild has a wide range of experience in growing businesses and improving their performance as a senior manager and adviser
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Woodbois encouraged by growth in the Voluntary Carbon Market
Woodbois increased revenues over the previous quarter, despite the backdrop of continuing difficult conditions in the shipping sector
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Woodbois Limited accepted as member of European Forest Institute
"We join a global network of frontrunners in forest management and research who share a common goal to substitute the existing linear fossil economy for a circular bioeconomy," said boss Paul Dolan
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Woodbois turns a corner
"Turning the corner to become EBITDAS positive for the first time is highly encouraging and our primary goal is now to get the Group to a point where it is consistently operationally cash flow positive."
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Woodbois increases its Gabon forestry interest by 75% in deal worth US$1.5mln
The new area is around 100 kilometres from the company's sawmilll
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Woodbois on track to become cash flow positive and profitable this year
The group is eyeing a step-change in the pace of revenue growth and further margin improvement once the freight industry normalises
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Woodbois again ranked highly for ESG among timber producers
100 timber and pulp companies, that together control over 44 million hectares of land, were assessed in the report.
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Woodbois raises £6mln in oversubscribed funding as it seeks to bolster reforestation and carbon sequestration venture
“The raise will provide seed capital for our fledgling reforestation and carbon sequestration unit," said chief executive Paul Dolan
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Woodbois acquires additional veneer equipment to boost production
The timber group said it has acquired the veneer lines from CEMA Bois De L'Atlas, one of Africa's largest plywood manufacturers
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Soaring timber prices are just one more sign that inflation is on the way
Americans stuck at home are investing in their houses
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Woodbois sharply cuts debts, notes business resilience despite pandemic
The forestry and timber group also said its outlook “has never been more attractive” and that it expects to become cashflow positive and deliver record turnover in the coming year
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Woodbois hails record output from Gabon facilities amid upswing in demand
For the quarter ended March 31, the forestry and timber firm reported revenues of US$4.6mln, 44% higher than the previous quarter, while sawn timber production jumped 83% and veneer production increased 44%
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Woodbois establishes new reforestation and carbon credit division
The forestry group said the new division will diversify the revenue stream of the business while also being “significantly [earnings] accretive” and expanding its hardwood asset base
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Woodbois says Gabon facility running at record levels
The significant increase in output is largely due to "improved maintenance and working processes"