Forestry semi-State Coillte recorded a €60.5m operating profit for 2014, up 46% on the previous year.
This was based on turnover of €298m – which was up 8% on 2013.
The company said this represented “good progress” in its recovery on the back of the downturn in construction in Ireland as well as Britain.
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.
The company primarily supplies timber and other wood products but is also involved in wind energy generation, biomass and green tourism projects.
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.
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.
