During the financial year 2022-2023, the timber industry experienced a historic decline in timber prices, which had been highly elevated during the pandemic due to shortages and unpresented demand. This fall in the cost of timber resulted in stock acquired during the pandemic to be sold at a loss, thus resulting in disappointing profit for our financial year leaving the pandemic. However, with timber prices now stabilised at normal levels, we anticipate a more favourable business environment moving forward. We remain optimistic about the company’s future growth plans and believe that such extreme price volatility is unlikely to reoccur.