66 INTEGRATED ANNUAL REPORT 2023 Current board of directors: AV Schefermann AV Schefermann GL Freese HG Niebuhr NC Motloli MT Ngubane V Dladla SUBSIDIARY ACTIVITIES (R’000) BAYFIBRE FOREST (PTY) LTD RESOURCES (PTY) LTD 2023 2022 2023 2022 Profit / (loss) before tax 55 505 12 385 80 525 13 956 Profit / (loss) after tax 42 012 11 526 60 563 11 019 Farm profit / (loss) before plantation revaluation (237) 2 291 57 651 (767) Favourable / (unfavourable) plantation revaluation 39 613 (12 582) 22 874 14 723 Dividends declared 9 957 9 957 5 995 0 Net worth 379 448 347 393 189 021 134 452 Current assets exceed current liabilities by: 95 093 111 411 89 022 62 129 Farm area 4 347 4 427 2 224 3 828 2 timber farms 1 timber farm
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