BRIEF-York Timber Holdings Says Commenced Restructuring Of Poor Performing Divisions

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BRIEF-York Timber Holdings Says Commenced Restructuring Of Poor Performing Divisions
Credit: © Reuters.

March 25 (Reuters) - York Timber Holdings Ltd YRKJ.J :

* YORK TIMBER HOLDINGS LTD - HY REVENUE R800.3 MILLION VERSUS R899.4 MILLION

* YORK TIMBER HOLDINGS LTD - HY DILUTED HEADLINE LOSS PER SHARE 20 CENTS

* YORK TIMBER HOLDINGS - OVER REPORTING PERIOD, CO LOST 192 PRODUCTION DAYS OF AVAILABLE 655 DAYS ACROSS ALL PROCESSING OPERATIONS DUE TO STRIKES

* YORK TIMBER HOLDINGS LTD - RESTRUCTURING WILL BE UNDERTAKEN TO ALIGN COMPANY STRUCTURE WITH CURRENT SCALE OF OPERATIONS

* YORK TIMBER HOLDINGS LTD - REMANUFACTURING DIVISION DID NOT MEET REQUIRED EXPECTATIONS AND THEREFORE BEST OPTIONS GOING FORWARD ARE BEING CONSIDERED

* YORK TIMBER HOLDINGS LTD - COMMENCED WITH "ALIGNING HUMAN RESOURCES DIVISION WITH OPERATIONS TO EFFECTIVELY AND SPEEDILY ADDRESS EMPLOYEES' MATTERS"

* YORK TIMBER HOLDINGS LTD - HAS COMMENCED RESTRUCTURING OF POOR PERFORMING DIVISIONS

* YORK TIMBER HOLDINGS LTD - "IN ABSENCE OF A SIGNIFICANT IMPROVEMENT IN ECONOMIC GROWTH, SOUTH AFRICAN MARKET WILL MOST LIKELY REMAIN SUBDUED"

* YORK TIMBER - IN PROCESS OF SELLING OUTLIER PLANTATION, IS AWAITING FINAL PAYMENT FROM SASRIA IN RESPECT OF JESSIEVALE'S BURNT WAREHOUSE

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