Canada key for FCL?
By
MARTIN FREETH,
of NZPA Wellington Fletcher Challenge’s Canadian forestry investments are expected to contribute half of a record annual profit to be reported tomorrow. Analysts forecast a final result for the year to June 30 of between $520 million and SS3OM, up from $355M in the previous year. Earnings in the first half to December 30 jumped 94 per cent to
5298.6 M, largely reflecting 1 the profits of FCL’s wholly owned subsidiary, Crown Forest Industries, and 51 per cent-owned British Columbia Forest Products.
With prices for pulp and newsprint high, forecasters said the two investments could return FCL net profit of between S27OM to S2BOM. Growth in this area is expected to more than offset weak performances from some of Fletcher Challenge’s domestic activities.
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Press, 13 September 1988, Page 24
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130Canada key for FCL? Press, 13 September 1988, Page 24
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