VicForests has achieved a positive profit from operations before tax of $1.5 million in 2016/17, highlighting the continued demand for native timber in Victoria.
This is a good result considering the operational challenges we have faced. The company’s result after tax was a loss of $3.2 million, due to a decrease in the accounting valuation of the area of State forest available to be harvested for timber.
VicForests Chief Executive Officer, Nathan Trushell, said he was pleased with the profit from operations, and that the loss after tax is the outcome of more forest being placed in reserves and not a reduction in demand for timber.
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