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Branchline Feb 17, 2011

Half Yearly Financials

For the first time, Forestry Tasmania today released its half year financial accounts. While publicly listed companies are obliged to report their half year results by February 28, Tasmania's Government Business Enterprises are only required to report annually on their financial results. We decided to release the half year results because we understand that given the level of uncertainty around the forest industry, our shareholders want to be kept fully informed.
Our half yearly results show a $7million dollar operating profit before the Community Service Obligation (CSO) costs associated with managing forest reserves (non commercial zones).<read more>
Improved sales of forest products is due in part to the resumption of whole log exports. In the first six months, these exports contributed about $4m to revenue.
As we speak, a consignment is being loaded at Bell Bay and later in the week in Hobart, bound for Korea and China.<read more>
As I mentioned last week, staff in the north west have been excited by the discovery of three new wedge-tailed eagle nests. Every year, FT spends about $300,000 hiring helicopters to search State forest for nests. Once they are located, a reserve of at least 10 hectares are placed around the nest to ensure these iconic birds are left in peace. Forest Officer James Ferguson even managed to capture a dramatic photo of one pair of eagles on their newly-built nest during a helicopter fly-by. Make sure you click here to view the image. <read more>
Ravenswood is the venue for the Forestry Tasmania Cross Country Mountain Bike State Championships this weekend. The event is part of FT's Community Assist Program with the championships expected to attract a field of more than 70 riders. Organisers are encouraging anyone to 'have a go', and will have winners and placegetters in the under 15, under 17, under 19, open, veterans, masters and super masters. <read more>

Episode Three of the popular Going Bush series continues on Saturday (12:30pm in regional Vic, NSW & Qld - 5pm Tas). Make sure you are watching to grab the code word and enter our Going Bush competition for chances to win great prizes from our tourist attractions. Plus there are major prizes of two Adventure Forests statewide tour packages one of which includes a return trip for the whole family on the Spirit of Tasmania for interstate viewers.<read more> On the show this week hosts Nick and Andrew find out that lonely trees can be happy trees and they explore the unique relationship between forestry and four wheel drivers! Don't miss it, Going Bush is a great show combining education with great entertainment. <read more>
Until next time,
Ken Jeffreys
Forestry Tasmania
GM Corporate Relations and Tourism


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