13% rise in Coillte operating profits since 2004
26/04/2006 - 15:25:54Forestry company Coillte has reported operating profits before exceptional items of €48.51m for 2005, up 13% on 2004.
The company's after tax profit was reduced to €19.65m as a result of an early retirement/voluntary parting scheme and ex-gratia payments and pension contributions.
While the underlying business performance was strong, with good contributions from the Group’s forestry, land development and SmartPly wood panel businesses, the company has registered concern at falling profits from fire log sales and losses as a result of over-supply in the Christmas tree market.
