Precious Woods Group has achieved a sales increase of 3% ($45.7 million) and increased positive earnings before interest and taxes (EBIT) to $1.7 million in FY 2016.

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Precious Woods FY 2016 sales increase by 3%

Precious Woods Group has achieved a sales increase of 3% ($45.7 million) and increased positive earnings before interest and taxes (EBIT) to $1.7 million in FY 2016, as the company said in the press release received by Lesprom Network.

The result 2016 was affected by political problems towards end of the year in Brazil. A strike followed by conflict of competences of the custom administration hindered Precious Woods Amazon to ship goods during 2 months. The missing sales of around $2.3 million were realized early 2017 only. Production was not affected by this issue and as a consequence inventory increased by $1.9 million.

Precious Woods is one of the leading companies in sustainable management of tropical forests globally. The group was founded in 1990 with it's headquarter based in Switzerland.