Pre-tax profits at Coillte trimmed back by 25%

Pre-tax profits at Coillte have fallen by 25% according to their annual report.

The national forestry body which employs 1,000 people reported a pre-tax profit of €16.4m down from €20.7m in 2011.

Acting chief executive Gerry Britchfield said, despite market conditions, the company had performed well: “Coillte delivered a strong financial performance in 2012, a challenging year in our main markets, and I am pleased to report that we delivered an operating profit of €35m.”