Australian timber company Gunns Ltd has recorded a 77% increase in net profits to A$31.8m for the six months ending December 31, 2002.
Sales increased by 33% to A$301.2m, with operations experiencing greater demand in both domestic and export markets. Asian markets for solid wood and woodchip products have improved consistently through the calendar year.
Gunns’ Tasmanian-based merchandising and construction businesses are growing steadily. Merchandising turnover for the period is up 10% on the previous year’s comparative period.
The company expects demand to remain strong in the second half and believes an upturn in non-dwelling construction projects should lead to more sales of solid timber and veneer products in the domestic market.
