StockMarketWire.com - African hardwood supplier Woodbois posted a first-half loss, as rising sales were outweighed by higher operating costs.

Pre-tax losses for the six months through June amounted to $3.4m, compared to a loss of $4.7m on-year.

Revenue rose 41% to $9.3m.

'The group continues to improve on all fronts and has delivered further demonstrable progress in the first half of 2019, with further rapid revenue growth, reduction in administration expenses and rationalization of the corporate structure,' chief executive Paul Dolan said.

'The next target for the board is for our operations to become cash-flow positive while maintaining focus on delivering high-quality products and services to our customer base and continuing to drive the high levels of revenue growth delivered over the last two years.'




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