Sustainable Timber continues to grow
- 06 Dec, 2018
Sarah Courtney, Minister for Resources
Sustainable Timber Tasmania has achieved its first operational profit in 10 years demonstrating the sound management of the company under the Hodgman Majority Liberal Government.
An underlying net profit of $5.948 million has been delivered for the period
The company is also now debt-free and has delivered the State of Tasmania a $15 million special dividend.
STT’s operations and the forest production it generates make significant economic and social contributions including:
- Payment of $147 million to businesses for goods and services provided to Sustainable Timber Tasmania. Of these payments, 75 per cent ($110 million) were made to 700 Tasmanian-based companies.
- Payment of $15.592 million in wages to more than 150 staff (headcount).
- Payment of $48 million to harvest and haulage contractors that are estimated as employing over 280 people directly.
- Provision of forest products to 47 wood processing customers, the majority of which have Tasmanian-based operations.
While these results are positive the Government is aware that challenges remain in rebuilding the forestry industry.
The Hodgman Majority Liberal Government has been working hard to turn things around since the Labor-Green disaster, and we are committed to ensuring the industry continues to grow.