Woodbois Provides Trading Update, Delays Annual Report
Why we think this is neutral
The trading update from Woodbois Limited provides a mixed picture. On the positive side, the company reports increased production, sales, and revenue growth projections for June 2025. However, the company is also facing delays in finalizing its annual accounts for 2024, which will result in a temporary suspension of trading in its shares. While the operational performance seems to be improving, the accounting and reporting challenges introduce uncertainty and could weigh on investor sentiment.
Key Points
- Production and sales volumes increasing
- Veneer stock fully sold, new production underway
- Sawn timber exports boosted by trade show participation
- Delays in finalizing 2024 annual accounts
- Trading in shares to be suspended until 2024 accounts published
Summary
Woodbois Limited has provided a trading update, reporting that production has resumed as planned in Gabon and that significant volumes of wood have been repatriated under forestry concessions. The company also notes a substantial increase in veneer sales and sawn timber exports. Revenue for June 2025 is projected to increase based on current contracts, production levels, and both export and local sales activity. However, the company also announces a delay in publishing its audited annual report and accounts for the year ended 31 December 2024, citing disruptions and delays in finalizing the accounts. As a result, trading in Woodbois' shares on AIM will be suspended until the publication of the 2024 annual accounts.