Strong sales growth and positive profit trend continue at Precious Woods

In the first 9 months of 2007, Precious Woods grew net sales of timber and electricity by 85% from USD 32.0 million to USD 59.1 million compared to the same period of the prior year. Profit from operating activities increased from USD 2.4 million to USD 6.9 million and net income from USD 2.3 million to USD 6.6 million. The figures are only conditionally comparable, as prior year results were impacted by one-off charges in Brazilian operations as well as the retroactive issuance and sale of certified emissions rights accumulated in preceding years. In addition, Precious Woods acquired two companies in Gabon in April 2007 now driving a significant share of the top line growth.

(For result details have a look on Nine month results 2007)

Precious Woods Nicaragua achieved FSC certification in the past days. As a result, all Latin American operations of Precious Woods are now certified according to the criteria of the Forest Stewardship Council (FSC). FSC certification attests that a company complies with high standards set for the ecological and social aspects of sustainable forest management. In the current year, the Group’s forestry company in Gabon which has already been certified under another system has launched a program to achieve FSC certification.

For further information please visit www.preciouswoods.com

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