York Timber Holdings says it slipped into a loss in the six months ended December as sales fell, partly due to employee strikes.
York said it had imported plywood to service local customers during the strike, while harvesting activity either stalled or was scaled back. “These operations are scheduled to normalise over the remainder of the financial year,” it said. York said the minimum wage rate was increased for forestry contractors, and this contributed to higher administrative expenses.
“Subsequent to the reporting period, good rains have fallen and planting targets will be met for the 2019 financial year.”
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