Forestry Tasmania Remains A Profitable Enterprise

At Tasmania’s Government Business Enterprise Scrutiny Committee hearings today, Forestry Tasmania reported it had earnings (before interest and tax) of $21.9 million in 2006-07, an increase of $2.01 million from 2005-06’s earnings of $19.89 million.

“Forestry Tasmania’s overall financial performance remains strong,” said Penny Egan, Forestry Tasmania’s Chief Financial Officer.

“In 2006-07, FT paid approximately $10 million dollars in taxes and to Community Service Obligations (CSO). These expenses support State Government programs and priorities,” Ms Egan added.

“FT paid a dividend to the State Government in 2005-06 of $1.29 million dollars. This was part of total payments to the State and Local Governments of $5.31 million including taxes.

“In 2006-07 the total net asset value of Forestry Tasmania increased by $7.11 million from the previous year, going from $569 million to $587 million and received no funding from the State Government, for its operational, forest management activities, or CSO programs.

“Since incorporation in 1994, FT has paid in excess of $139 million to the government by way of taxes and ordinary and special dividends.

ENDS
4 December, 2007


Media inquiries:
David Tuck,
Forestry Tasmania
Corporate Relations
6233 8249