Cambium Global Timberland’s H1 NAV falls on weak US demand

* Expects weakness to reach bottom towards end of FY

* Says reduced harvesting of high-value pine saw

* H1 NAV/shr 91 pence vs 1.02 stg
(Adds details)

Jan 29 (BestGrowthStock) – Investment fund Cambium Global
Timberland Ltd (TREE.L: ) said its first-half net asset value
(NAV) per share fell 10.8 percent, hurt by weak demand for sawn
wood products in the United States.

The company, which also owns forestry assets in Australia,
New Zealand, Hawaii and Brazil and the United States, said the
valuations of its U.S. assets continued to decline and that it
reduced the harvesting of high-value pine saw timber

“We anticipate these trends will continue and that the
valuations for these properties will reach the low point with
the next cycle of appraisals due for the period ending April
30, 2010,” Cambium Global Timberland said in a statement.

In the six months ended October 2009, its NAV was 91 pence
per share, compared with 1.02 pounds a year ago.

Shares of the company closed at 74.75 pence on Thursday on
the London Stock Exchange.

Investment Research

(Reporting by Aditi Samajpati in Bangalore; Editing by
Unnikrishnan Nair)

Cambium Global Timberland’s H1 NAV falls on weak US demand