New figures confirm THI AG recovery

Upper Austrian wood company Teak Holz International AG (THI AG) is back in the black, it has emerged.The Linz-based firm, which suffered a loss of 11.8 million Euros in the 2008/2009 business year, said today (Thurs) its achieved earnings before interest and taxes (Ebit) of 3.5 million Euros in the 2009/2010 business year which ended on 30 September 2010.The supervisory board of THI AG – which has more than 100 employees in Austria and Costa Rica – was increased last February when shareholder Klaus Hennerbichler became its fourth member. Czech businessman Pavel Brenner joined the firm’s executive board in July.THI AG is listed on the Vienna Stock Exchange (WBAG). One share was worth 4.40 Euros at 2pm today.