Forest Inv. profit falls
The group net profit of Forest Investments, Ltd, the Taupo-based forestry investment fund, fell a marginal 2.6 per cent to $135,527 in the year to June 30, a preliminary report released yesterday shows. The directors say that the Tasman Forestry, Ltd, has valued the company’s forest estate at $4,928,900 at June 30. This compares with a valuation of $3,858,300 given in the annual report last year.
At the balance date 2860 ha, or 70.6 per cent, of the planned 4050 ha has been planted, and since June 30 a further 300 ha have been planted.
The leasing the of 400 ha block next to the freehold Ngatapa Forest, to be known as Te Kooti forest, will give the company sufficient land to achieve its target of 4050 ha in forestry. The profit was after providing $2943 less for tax at $113,662.
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Press, 1 October 1983, Page 22
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145Forest Inv. profit falls Press, 1 October 1983, Page 22
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