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ForestrySA enjoyed a successful 2009-10 financial year

As manager of South Australia’s plantation estate, ForestrySA paid $44m to the State Government in taxation and dividends (up from $23m in 2008-09) and more than $1.2m in rates to various Local Governments.
Total revenue from timber sales increased to $126m, up from $108m the previous year. Profit after tax was $113m ($93m in 2008-09) which included an $81m ($70m in 2008-09) net increase in the value of the plantation. This valuation adjustment comprises an increase in the volume and unit value of the trees.
ForestrySA also continued to build on the future profitability of the business during 2009-10, making incremental investment in land and plantation expansion, further increasing environmental benefits through carbon sequestration and continued commitment to the Australian Forestry Standard (AS 4708).
These outcomes are reflected in the ForestrySA Annual Report 2009-10, highlighting ForestrySA’s strong position for the future.
The Annual Report also highlights ForestrySA’s community sponsorship program, supporting events such as Mount Gambier’s Riddoch Art Gallery Wood Sculpture Competition, AusTimber 2012, City of Mount Gambier Family Fun Day, Bundaleer Forest Weekend and many other community, sporting, school and industry groups.
Chief Executive Mr Islay Robertson said: “The framing of our business goals for 2009-10 were established during 2008-09 in the shadow of the Global Financial Crisis and with perceptions of further difficult economic conditions in the year ahead,” he said.
“The above expected achievement reflects a number of decisions made by the ForestrySA Board to improve sales and performance.
“As a result, considerable cost savings, capital expenditure reduction and additional revenue sources provided a very satisfactory business result.”