Australian forestry company Gunns Ltd has reported a net loss after tax of A$355.5m for the year ended June 30.
The profit comes on the back of revenues of A$620.7m ($651.6m) for the financial year 2011, compared to A$704.4m for the same period of 2010.
Earnings from plantation management for the year 2012 are projected at A$7m.
It said timber markets were expected to remain difficult, while earnings are expected to improve progressively through 2012.
Gunns is one of Australia’s leading manufacturers of value-added hardwood and softwood products.
