Stronger operating conditions in the forestry and wood products businesses have helped Carter Holt Harvey to NZ$73m net profits for the first half to June, compared to a loss of NZ$15m in the previous corresponding period.
For the June quarter it recorded net profits of NZ$56m, up from NZ$17m in the previous quarter and compared to a loss of NZ$34m in the June quarter of 2001.
The company says the outlook for the forestry business is stable overall with domestic demand expected to remain steady due to continuing residential construction in Australia and New Zealand.
