Higher revenue from an improved woodchip market and a lower dollar has boosted profits at Albany Plantation Export Company, WA Plantation Resources and Bunbury Fibre Exports. Source: Business News
Revenue at Bunbury-headquartered WA Plantation Resources was 23.2% higher at $81.3 million in the year to December 2015, according to the company’s annual report.
Exports of Karri timber were up by around 26,000 tonnes on a slightly lower price, while Globulus timber volumes remained steady as the price increased $20.
That took WA Plantation Resources to a $8.9 million after-tax profit, up from an $824,000 loss in the previous period.
The company declared a $2.3 million special dividend in January.
Japanese business Marubeni Corporation is the owner of WA Plantation Resources.
Revenue was also up at Albany Plantation Export Company, increasing around 48.6% to $78.6 million in the year to March 2016.
Processing costs were higher, up from $39.4 million to $57.6 million, with profit rising from $1.7 million to $6.5 million.
Albany paid a $7 million dividend in May, with two Japan-based shareholders, trading house Itochu Corporation and Oji Paper Company, the beneficiaries.
At Bunbury Fibre Exports, which has a March reporting date, revenue was $84.2 million, slightly higher than $80.9 million in the corresponding previous period.
The company operates a mill at the Port of Bunbury and buys wood from local growers.
After tax profit was also up slightly, from $3 million to $4 million.
After not declaring a 2015 dividend, Bunbury returned $3 million to shareholders for the 2016 financial year. It is controlled by Japan’s Mitsui & Company.
