Old women almost ruined timber (7)

I believe the answer is:

elmwood

'timber' is the definition.
(I've seen this before)

'old women almost ruined' is the wordplay.
'almost' means to remove the last letter (almost the whole word is kept).
'ruined' indicates an anagram.
'old'+'women'='oldwomen'
'oldwomen' with its final letter taken away is 'oldwome'.
'oldwome' anagrammed gives 'ELMWOOD'.

(Another definition for elmwood that I've seen is " timber".)

I've seen this clue in The Times.

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