Nature Wood Group is pleased to announce its guidance for the fiscal year 2024. The company expects to achieve a significant increase in revenue, reaching $45M, compared to the recently preannounced revenue of $25.4M 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 certified operations, Nature Wood is well-positioned to capitalize on these regulatory changes and meet the growing demand for sustainable wood products.
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