Losses have been pruned dramatically at British timber grower Highland Timber plc.
The company incurred pre-tax losses of £164,000 during the year to December 31, 2001, compared to losses of £672,000 the previous year. Sales, at £1.1m, were marginally down on 2000.
Chairman IJS Henderson said that Highland was pinning its future hopes on rising timber prices.
“It is our firmly held conviction that a fundamental shortage of timber will emerge in the longer term, with a consequential impact on prices. The unknown factor is, of course, the time frame over which these changes will take place.”
