A 26% rise in half-yearly net profits has been reported by Carter Holt Harvey despite a dip in its second-quarter performance.
Profits totalled NZ$92m for the first six months, even though they were 27% down in the second quarter to NZ$41m, compared with NZ$56m a year ago.
Factors affecting earnings during the last quarter include an 82-day industrial dispute at the company’s Kinleith pulp and paper mill and a weaker export performance which had a knock-on effect on domestic markets for logs and wood products.
Carter Holt’s forests division earnings before tax and interest fell to NZ$22m from NZ$39m a year ago, while wood products and packaging earnings fell from NZ$22m to NZ$17m.
