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Coillte saw profits surge in 2014
30 Jul 2015 14:02
Forestry semi-State Coillte recorded a €60.5m operating profit for 2014, up 46% on the previous year.
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This was based on turnover of €298m – which was up 8% on 2013.
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The company said this represented “good progress” in its recovery on the back of the downturn in construction in Ireland as well as Britain.
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Coillte said it was seeing strong demand globally, which it expected to continue in the coming years as construction activity increased and demand for bioenergy grew.
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The company primarily supplies timber and other wood products but is also involved in wind energy generation, biomass and green tourism projects.
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It is involved in a number of joint ventures with Bord Na Móna and has also undertaken a €59m investment at one of its plants in Kilkenny.
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Coillte said it had paid a dividend of €4m to its shareholders, the Ministers for Agriculture, Fisheries and Food; and Finance out of last year’s figures.
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