A healthy increase in the volume of logs sold and strong performance by its enterprise businesses has helped Coillte, the Irish forestry board, to a 20% increase in earnings.
The company AGM heard that profits reached I£25.5m compared with I£21.3m in 1999.
Coillte chairman Ray McSharry said substantial investment in new processing capacity by major sawmills last year would improve Irish timber’s competitiveness in Irish and export markets.
Turnover rose by 9.6% to I£123.29m, with improved sales performance in all areas. Revenue from timber sales was up by 7.5% to I£84.47m, while the volume of roundwood sold rose by 9% to 2.73 million m³.
