Obtala forecasts record annual revenue

Obtala said it expected to post record levels of annual revenue after it boosted forestry production in the fourth quarter.

A total of 11,000 square meters of logs were harvested and 3,500 square meters of sawn timber were produced in the three months through December.

The company also said that it was able to secure additional trade finance for its timber trading division and expected profitable growth for that division in 2018.

"Obtala is not the same company I joined as chairman in 2016," chairman Miles Pelham said.

"The dormant assets held by the company in East Africa are now producing, and we have grown into a vertically integrated forestry and agriculture business with significant operations in West Africa."

At 8:26am: (LON:OBT) Obtala Limited share price was +0.38p at 13.13p