Nature Wood Group Limited Announces Strong 2024 Guidance Driven by EU Regulations
Nature Wood Group Limited (NWGL)
Company Research
Source: PR Newswire
Nature Wood Group Limited Expects 75% Revenue Growth in 2024MACAU, March 4, 2024 /PRNewswire/ -- Nature Wood Group Limited ("Nature Wood" or the "Company"), one of global leaders in vertically-integrated forestry and FSC business operations, is pleased to announce its guidance for the fiscal year 2024. The company expects to achieve a significant increase in revenue, reaching $45 million, compared to the recently preannounced revenue of $25.4 million for 2023.The rebound in sales is primarily driven by new regulations in the European Union, which mandates a higher percentage of wood to be used in building homes and requires the wood to be sustainably sourced. As a company with a strong focus on Forest Stewardship Council (FSC) certified operations, Nature Wood is well-positioned to capitalize on these regulatory changes and meet the growing demand for sustainable wood products."We are excited to see the positive impact of the new EU regulations on our business," said Mr. Jianjun Zeng,
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Sec Filings
- 4/25/24 - Form 20-F
- 4/25/24 - Form 6-K
- 3/4/24 - Form 6-K
- NWGL's page on the SEC website