Future Forests Fiji makes loss
September 7, 2015 9:05 pm
Future Forests Fiji has made a net loss of $493, 000 for year ending June 2015.
This is an increase of $108, 000 when compared to the same period last year.
However the total sales revenue for the company increased by $282, 000 over the corresponding year.
Teak seedlings sales to the EU funded reforestation project amounted to $174, 000 and an increases sales contribution of $108, 000 from saw milling operations contributed to the overall growth in sales revenues.
Scarcity of log supplies in the Ra region forced the company to temporarily suspend its saw milling operations in October last year.
In April this year, the land owners once again started logging operations in the region.
This operation by the landowners has provided the company an opportunity to start milling timber again.