19 October 2009
Forestry Plantations Queensland has published its 2008-09 annual report.
The report is available here (download 3.18 mB).
FPQ’s trading performance in 2008-09 reflected that of most businesses dealing with the severe economic downturn of the period.
In Queensland, the housing and construction industry slowed enormously, greatly affecting the timber industry’s ability to purchase FPQ’s plantation products.
FPQ faced a decline in timber removals and sales income, with direct impacts upon earnings and profitability, however, at the same time the corporation extended its support for its customers to assist them through the downturn.
This included deferring timber price increases, contributing $50,000 in grants to assist industry with environmental certification, and helping customers with their business planning by allowing them to target specific plantation areas for harvest.
The year was a successful one for FPQ increasing its business efficiency and reducing costs. This enabled the corporation to maintain a positive trading position and deliver a $3.3 million dividend to Queensland.
Highlights for FPQ in 2008-09 included:
• 1.55 million cubic metres of plantation timber removals
• $72.4 million in timber sales
• 6,613 hectares of additional land secured for plantations
• $2.2 million invested in research and development
• 6.4 million trees planted.
As well, FPQ had its sustainable forest management system independently audited, confirming its ongoing certification to the Australian Forestry Standard to July 2011.
The corporation’s ongoing certification to this standard brings significant benefits to industry, the community and the environment.
For industry there is the advantage of marketing products that come from sustainably managed forests.
For the community there is the benefit of knowing timber sourced from FPQ contributes to a healthier environment and that houses and other buildings using this timber are truly “green”.
And for the environment there is the benefit that FPQ’s activities protect environmental values.
Towards the end of 2008-09 there were signs of an overall improvement in the building and construction sector, signs that continued an upward trend into the new financial year.
As well, the Queensland and Federal governments’ various support packages for first home buyers and social housing and infrastructure have strengthened the underlying demand in the Queensland plantation forestry sector.
These factors will bring an increasing uptake of FPQ’s plantation products and the corporation should experience upward performance and growth from 2009-10.
Print this page
