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Steady Profit

  • Profit of $3.54 million unchanged from the corresponding period last year.
Market Conditions
  • Strengthening demand from Asia leading to higher prices particularly for industrial and utility grade logs.

  • Evergreen has switched its harvest focus to areas yielding a higher proportion of these log grades.

Note Buyback
  • Pro rata buy back for 15% of the convertible notes on issue completed.

 

FINANCIAL SUMMARY

IN $NZ 000’S
(UNLESS OTHERWISE STATED)

31 Dec 2001
(6 Months)
Un-Audited

31 Dec 2000
(6 Months)
Un-Audited

30 Jun 2001
(12 Months)
Audited

Operating revenue

11,220

17,266

33,101

Net (deficit) surplus after taxation

3,540

3,532

5,044

Equity

117,574

107,965

114,347

Shares on issue
(number in 000’s)

140,734

131,434

140,734

Convertible notes on issue
(number in 000’s)

24,225

28,500

28,500

Land at cost

27,402

27,090

27,402

Forest at cost

156,116

144,637

151,651

Net asset backing per share at historical cost

$0.82

$0.77

$0.79

 

All financial information is in New Zealand dollars, unless otherwise stated. At 31 December 2001, the rounded conversion rate was $NZ1.00 = $US0.4150.

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