Profit

• Evergreen recorded a six month operating surplus of $2.107 million, compared with $0.890 million for the corresponding period last year.
  
  
• Evergreen harvested 63,817 m³ of timber in the six months to 31 December 1999, compared with 82,337 m³ in the full year ended 30 June 1999.

Growth

• Evergreen purchased 3,204 stocked hectares of established East Coast forests in late 1999. These mid-rotation forests are synergistic with the existing estate in terms of age class profile, and complementary in terms of location. East Coast holdings are now 9,531 stocked hectares.

Market Development

• Evergreen has been directly involved in the development of an export market for high quality pruned logs to Korea.
  
  
• In February 2000 Evergreen invested in a forestry marketing subsidiary, Forestry New Zealand Limited. The intention is to both maximise the value recovered from the existing estate and create a secondary income stream trading third-party resource.

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