Woodbois’ record quarterly revenues of $4.9 million during 3Q 2019 represented a 44% increase from 2018's average quarterly run-rate, and continued quarter-on-quarter growth, as the company said in the press release received by Lesprom Network.
The trading division performed particularly strongly with $3.4 million in revenues. Revenues from its own production were $1.5 million, but were impacted adversely by the halting of timber exports from Gabon during the summer due to the 'kevazingogate' scandal created by the attempted illegal export of logs. The export from Gabon of logs of all species has been banned since 2010.
With the export situation for processed timber products returning to normal, its pace of shipments picked up sharply by the end of the quarter, with revenues from these later shipments due to fall within 4Q.
Woodbois is the African focused forestry and timber trading company.
