Evergreen Forests’ policy of harvesting more lower grade timber helped it record a 21% rise in first-half profits.
The New Zealand company, which owns and has cutting rights to 21,000ha of radiata pine, harvested up to 60% more trees to post an interim profit before tax of NZ$4.27m in the six months ended December 31.
It says log prices are at a low point but the long-term outlook for the company is positive.
