Tasmanian Times

The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. No price is too high for the privilege of owning yourself. ~ Friedrich Nietzsche

The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. No price is too high for the privilege of owning yourself. ~ Friedrich Nietzsche

Media Release

Sustainable Timber continues to grow

Sarah Courtney, Minister for Resources

Sustainable Timber Tasmania has achieved its first operational profit in 10 years demonstrating the sound management of the company under the Hodgman Majority Liberal Government.

An underlying net profit of $5.948 million has been delivered for the period

The company is also now debt-free and has delivered the State of Tasmania a $15 million special dividend.

STT’s operations and the forest production it generates make significant economic and social contributions including:

  • Payment of $147 million to businesses for goods and services provided to Sustainable Timber Tasmania. Of these payments, 75 per cent ($110 million) were made to 700 Tasmanian-based companies.
  • Payment of $15.592 million in wages to more than 150 staff (headcount).
  • Payment of $48 million to harvest and haulage contractors that are estimated as employing over 280 people directly.
  • Provision of forest products to 47 wood processing customers, the majority of which have Tasmanian-based operations.

While these results are positive the Government is aware that challenges remain in rebuilding the forestry industry.

The Hodgman Majority Liberal Government has been working hard to turn things around since the Labor-Green disaster, and we are committed to ensuring the industry continues to grow.

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4 Comments

4 Comments

  1. Trevor Burdon

    December 7, 2018 at 11:28 am

    And let us not forget the $30.3M lifted from actual investors in Tasmania https://tasmaniantimes.com/2018/10/a-facts-a-fact-now-give-it-back/.

    The settlement and mediation remain secret, however in their positioning paper STT/FT spoke of no realised gain and hence no benefit, while concurrently working on the Reliance sale.

    Minister Courtney has not responded to my concerns .. in fact no accountable party has.

    An FOI request will be lodged today.

  2. gerrya

    December 7, 2018 at 9:59 am

    Imagine how much more profit STT could claim if Majestic Timbers stumped up apparent monies owing.

    Oh, what a delight it is to see such good examples of Lib and mirrors at the beginning of the fire season.

    Careful folks, or you could start a fire .. and demonstrate yet another way of losing state assets.

  3. John Hawkins

    December 7, 2018 at 9:54 am

    Courtney, Barnett and the Board in this press release rely on their spin doctors to confuse we, the voting public.

    If you Google the Annual Report of STT it suggests a completely different story …

    No mention of the $16,179,000 gifted by Tasmania’s Hodgman Government and listed under Revenue.

    No Mention of the book entry of the Biological Asset revaluation upwards by $26,624,000.

    These two non-items increase the non-existent Revenue stream by nearly 43 million dollars, and comprise the so-called Profit.

    The real story is Sales 144 million, and Expenses $160 million.

    In my book this equals a loss, for starters, of 16 million.

    The State has taken over the Pension Liability, and recapitalised the company which has no debt because it cannot afford to pay the interest.

    They are technically bankrupt.

    All this spin to buy votes from the brain dead mug punters.

    Pull the other one, Barnett.

    Where is the Examiner or the Mercury when it comes to asking a lying pollie difficult questions? Or do these magnificent local newspapers only survive on State Government advertising largesse?

    ‘He who pays the piper calls the tune.’

  4. spikey

    December 6, 2018 at 5:42 pm

    When will the liberal government stop talking such complete and utter bollocks in their press releases?

    Why didn’t Guy the grinner put his name to this one?

    They are nothing but underhand merchants.

    Selling Tasmania to nefarious interests.

    And lying straight to our faces.

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