Coillte Profits Jump to €40 Million

Coillte has published impressive results for 2007 showing a substantial increase in profits from €22.5m in 2006 to over €40m last year. Coillte has announced its profits for 2007 were up almost 80% on 2006 to an impressive €40.1 million.
The main drivers of this strong performance were high log and wood panel prices and strong customer demand, which resulted in strong performances by the Forest and Panel Products divisions.
During 2007 Coillte recorded turnover of €318 million, up almost 50% on 2006.  Exports accounted for 54% of sales, establishing the Coillte Group as an international forestry and forest products business. The largest export market was the UK with  Medite MDF and SmartPly OSB panel products generating the bulk of sales there. The year also saw log sales break the €100 million mark for the first time at €106 million. - For the full story, see the current issue of IT&F magazine!