Nature Wood Group Limited provided revenue guidance for the fiscal year 2024. For the year, 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.