Malaysian plywood manufacturer Lingui Developments Bhd has reported a massive boost in annual profits.
The company said a hike in timber volumes and prices had increased its profits to M$254.77m.
Plywood output totalled 454,060m3, while veneer production was 93,241m3.
Normal weather conditions aided the group’s log extraction operations, while a strengthening of the New Zealand dollar also helped.
Lingui is confident the favourable pricing situation will continue, partially due to forest conservation efforts which are causing a tightening of timber supply.
