Apr 24, 2008. /Lesprom.com/. Precious Woods Holding AG, a Swiss forestry company that harvests tropical woods, said 4Q profit rose 39% on the acquisition of timber companies in Africa and higher timber prices, Bloomberg informed. Net income advanced to $4.17 million from $3.01 million a year earlier on the acquisition of two companies in Gabon that increase supplies of roundwood and on higher timber prices, the Zug-based company reported. Sales more than doubled to $32.9 million. Precious Woods will ask investors next month to buy new shares to finance $20 million of investments planned in 2008. The cash will be used to purchase the final 16% of a veneer manufacturing unit in the Netherlands as well as land in the Amazon to replace other forests in Brazil where the company's harvesting permits haven't been renewed. "This year started well in terms of volumes,'' CEO Andreas Heusler said, adding that the demand for wood certified by the Forest Stewardship Council is strong and prices should remain stable this year. Prices for tropical woods increased last year as Asian nations reduced exports. Full-year profit more than doubled to $10.8 million as sales of timber, carbon emission rights and electricity advanced 66 percent to $99.75 million. Precious Woods is a world leader in the sustainable management and use of tropical forests. Based in Switzerland, the company employs some 2,300 people worldwide and has subsidiaries in Brazil, Costa Rica, Nicaragua, Gabon, Holland and Switzerland.