NCT Forestry Co-operative Ltd of South Africa experienced a 44% boost in turnover for the year ending February 28.
The co-operative’s turnover was R841m, up from R584 in the previous year. Net profit before tax was R113m.
The gains were matched by large increases in the cost of timber purchased. Consequently, the cost of sales grew by 52%, resulting in a lower operating profit of R7.97m.
Eucalyptus sales grew by 91%, followed by wattle (39%) but pine pulpwood fell by 13% as prices for this product remained static. Overall volumes grew by 43%.
NCT has a membership of more than 1,800, representing a total area of about 276,000ha – 18% of South Africa’s afforested land. Its area of management stretches from west of George in the Eastern Cape, throughout KwaZulu-Natal, parts of Swaziland and into Mpumalanga and Limpopo Province.
