Canadian-owned Sino-Forest Corporation, which operates plantations in southern China, has reported a 35.5% rise in third-quarter net profits to US$16.4m.
On the year, the company’s sales were up 19.7% to US$94.7m, mainly due to increased revenue from wood chips and standing timber.
Average standing timber sales prices were US$3,829 per ha, compared with US$2,638 in the third quarter of 2003. This reflected a boost in sales of pine trees, which are more valuable than the company’s eucalyptus stands.
Wood chip sales rose 7.8% to US$44m, while revenue from wood-based products stayed the same as a year ago at US$18.5m.
