Coillte to stop selling its land

Coillte is to switch from a sale to a lease model with regard to non-core land assets in a bid to generate recurring income.

The State-owned forestry and renewable energy body is also targeting around a €50m boost to operating cash flow over the next five years which will help it to invest in new areas, pay down debt and pay a larger dividend to the State.

The company, used to a negative cash position in recent years, yesterday reported a 48% rise in operating cash flow to €6.5m for 2015.