Australia: Tasmania’s forest industry turns around

The annual reports of both Sustainable Timber Tasmania and Private Forests Tasmania paint a picture of a growing, sustainable industry.

Sustainable Timber Tasmania recently announced a healthy statutory profit including an underlying profit of AUS$6 million (US$4.25 million) – a AUS$20 million (US$14.16 million) turnaround from last year’s underlying result. This is the first operating profit reported by the public forest manager since 2008-09.

STT has now retired all debt, as well as delivering a $15 million (US$10.62 million) special dividend to the Government.

Moreover, this is the first time in a decade that the public forest manager has been debt free.

On top of that, the Private Forests Tasmania annual report shows the total private forest harvest rose for the sixth consecutive year, with a nine per cent increase to 4.25 million tonnes.