Semi-State firm Coillte paid a dividend of €2 million to the Government last year, down 80% on the amount paid in 2011.
The company, which manages forestry and land on behalf of the State, made a pre-tax profit of €16.4 million in 2012 – down €4.37 million on the previous year.
Revenues at Coillte were more than €3 million higher last year, however costs rose by almost €9.5 million.
In its annual report, the company blamed the sharp rise in costs on the “increase in resin and electricity costs”.
During 2012, outgoing CEO David Gunning was given €372,000 in pay and remuneration. This was down from €411,000 in 2011.
