VicForests releases latest Annual Report
VicForests' Annual Report for 2014/15 was tabled in Parliament this week by the Minister for Agriculture and Regional Development.
The report includes our financial statements which show VicForests made a profit of $4.7 million during the last 12 months.
Many of you would have heard a lot of talk about our finances by opponents of the industry in recent years, with many activists incorrectly claiming that VicForests is unprofitable.
For the record, this is the third straight year VicForests has returned a profit. We now have zero net debt and, in July, we again paid a dividend to the State - this time a figure of $765 000.
Although being profitable is certainly not the only driver of VicForests' business, it is necessary to underpin our ongoing existance. I am very proud of the hard work by many people which has helped us to achieve these positive results and I offer my sincere thanks our staff, customers and contractors for the role all of you have played.
As always, there is still a long road ahead but the demand for our sustainable products is strong and the native hardwood sector remains an important part of the Victorian economy.
VicForests posts third straight profit
VicForests has posted a $4.68 million profit for the 2014/15 Financial Year.
VicForests CEO, Robert Green said the result is the third year in a row the organisation has returned a profit and is a pleasing outcome.
“We have continued to demonstrate improved profitability over the last three years, reflected in increasing profits and dividends being paid to the State as a result of our operations,” Mr Green said.
“A dividend of $765 000 was paid to the Treasurer in July 2015 on the back of the 2013/14 year and following our 2014/15 result we are proposing to pay a dividend of $1.5 million this year.
“In addition to again posting a profit, we have been able to reduce the amount owed on loans by more than $7 million and have cash in the bank of $7.5 million.
“We now have cash assets worth more than our outstanding loans. This a huge turnaround particularly after the Global Financial Crisis left us in a situation where we owed more than $25 million against our loan facilities,” Mr Green said.
He said VicForests placed a big emphasis on reducing costs and work closely with industry to make operations as efficient and cost effective as possible.
Mr Green said the contribution made by VicForests goes beyond its own financial results.
“VicForests is Australia’s largest supplier of high quality hardwood timber and demand for locally grown, sustainable timber products remains strong,” he said.
“Our industry contributes hundreds of millions of dollars to the Victorian economy each year.
“Our revenue from timber sales is up on last year and VicForests alone has injected more than $85 million into regional economies through contracts with local businesses and wages.
“Our customers and contractors continue to ensure there is economic diversity in many smaller towns across the State. At times this contribution goes unnoticed but these are multi-million dollar businesses providing vital employment and outlaying significant amounts of money in local areas,” Mr Green said.
VicForests’ 2014/15 Annual Report is available on the VicForests website – www.vicforests.com.au/corporate-reporting
'Make It Wood' seminar shows the future
The role of wood in high rise construction was the topic on the agenda at Planet Ark's 'Cities of the Future' seminar held on November 12 at the 'Library at the Dock' in Melbourne.
Designers, architects, construction managers, retailers and others with a passion for the use of timber attended the event to hear how mass engineered timber can be used in place of other materials to build large commercial buildings.
As well as being renewable and storing carbon, timber is proving to be a cost effective alternative which can reduce construction times for a range of commercial, residential and community spaces.
The key note speaker at the event was the founding director of London-based architectural practice dRMM, Alex de Rijke, who has built a reputation for innovative construction technologies and materials.
Alex is interested in laminated timber structures, architecture in relation to digital working methods, prefabricated and mobile architecture. He has taught and lectured around the world.
The Library at the Dock building, 107 Victoria Harbour Promenade in Docklands was created entirely using mass engineered timber and was chosen to demonstrate the potential of certified wood in contributing to positive environmental, social and economic change. It is also helping to tackle climate change by storing 250 tonnes of carbon in the wood used in its construction.
VicForests website goes 'mobile'
Welcome to the 'mobile friendly' version of the VicForests website!
The updated version includes some changes to way the content is laid out to make it easier for browsers using mobile devices like phones and tablets to find their way around.
For those of you who are already familiar with the site, don't worry - the structure remains largely the same.
As always, we welcome your feedback on what we can do to make the website better so please share your thoughts with us - www.vicforests.com.au/contact-us
VicForests visits the Omeo Show
VicForests is visiting Victoria's alpine region this weekend for the 130th annual Omeo Show being held on Saturday, Novermber 14, at the Omeo Recreation Reserve.
VicForests is sponsoring the woodchop event and hosting an information booth where forestry staff will be available to speak with the community about VicForests’ operations.
As well the woodchop event, there will be stockman project yard dog trials, horse events, various pavilions and rides on offer.
If you’re visiting this year’s Show, come down and say hello to our staff or for more information go to www.omeo show.com.au