Woodbois branches out in timber and carbon sequestration

Woodbois Ltd is involved in the production, processing, manufacture and supply of sustainable African hardwood and hardwood products.

The company also sources sustainable softwood, hardwood and related products internationally, supplying into Africa and across the globe.

() continues to observe strong global demand for sawn timber and corresponding price support for products, it said in a trading update.

The producer and processor of sustainable African hardwood and hardwood products said production of sawn timber and veneer in the third quarter was the highest it had been this year.

Total sawn timber production rose to 4,700 cubic metres in the three months to the end of September, a 36% increase on a daily average basis on production in the first half of 2021.

Total veneer production was up 24% on a daily average basis at 1,140 cubic metres from the first half of 2021.

Woodbois Limited (LSE:WBI) has been accepted as an associate member of the European Forest Institute (EFI), following the decision of the EFI board.

The EFI is an international organisation, established by European states with the purpose of undertaking research focused on forest policy, including its environmental aspects, the health of European forests, and on the supply of and demand for timber and other forest products and services in order to promote the conservation and sustainable management of forests in Europe.

Woodbois Limited (LSE:WBI) got a favourable reaction from the market for its half-year results, in which the company claimed to have turned a corner.

The African focused forestry, timber trading, reforestation and voluntary carbon credit company posted its first profit in the first half of 2021 with earnings before interest, tax, depreciation, amortisation and share-based payments (EBITDAS) of US$459,000 versus a loss the year before of US$775,000.