Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Record Profit For Forest Research

Rotorua-based Crown Research Institute, Forest Research has posted a record profit of nearly $3.4 million for the 2001 financial year. In announcing the outcome, Chairman Brian Armstrong noted that “While the result is a record for Forest Research, we are operating in an industry which is at the bottom of its economic cycle”.

A significant feature of the profit was the successful spin-off of the company’s interests in three major technologies — the E-grader (a multi-award winning timber stress grading machine), Engineered Wood Solutions Ltd (developers of the Greenweld finger-jointing technology) and Wood Hardening Technologies Ltd (who developed hardened radiata pine).

During the year, Forest Research extended its activity in the Australian forestry market with the establishment of an office in Sydney to complement its Melbourne base. While the Australian forestry industry has been on a downward cycle post-GST and the Olympic Games, Forest Research increased its revenues by 54% over the previous financial year. Market demand across the Tasman has focused on forest-to-mill planning and logistics solutions and mill process improvement consultancies.

Other highlights included:

 The investment of $3.9 million in capital items.
 The introduction of a Strategic Market Intelligence capability to guide in the establishment of future science platforms.
 The company was the first of the major Foundation for Research, Science and Technology (FRST) providers to facilitate the development of an industry-wide “national good” RS&T strategy.
 The establishment of a joint Centre for Advanced Composite Materials with the University of Auckland.

In meeting the Government’s requirement, Forest Research also announced that it would contribute $3 million in the coming financial year to help finance the New Zealand Venture Investment Fund. While this contribution will result in a significant increase in the company’s level of borrowings, the Board is confident it will be offset by growth in operating profitability in the future

While the forestry industry has experienced a difficult year, Chief Executive, Bryce Heard concluded that “Forest Research is embarking on a bold and ambitious development programme, with extensive planned capital expenditure to develop its science, people and facilities….. We are moving through an exciting and challenging phase in our development as we build on the initiatives that have been put in place over recent years”, he said.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO: