Coillte Teoranta, the Irish forestry board, announced profits of euro 25.5 million last year, an increase of 20 per cent on the 1999 figures.
Turnover also increased by over 9 per cent to euro 123.29 million with improved sales performance in all areas.
Revenue from timber sales increased by over seven per cent to euro 84.47 million, while the volume of roundwood sold increased by nine per cent to million m3.
In the sawlog category the volume sold increased by 16 per cent due to strong demand from customers who brought new processing capacity online during the year
Speaking today following the company's a.g.m., Mr Ray MacSharry, Coillte's chairman, said the increased profits resulted from a nine per cent increase in log sales and strong performances in the companies non-timber business.
"Developing businesses based on the group's forest and land assets and competencies has been a key priority in recent years," Mr MacSharry said.
"The proportion of revenue generated from sources other than timber sales is continuing to grow. In 2000 the proportion was 32 per cent up from 26 per cent five years ago."
Mr MacSharry also announced that Coillte has successfully completed the Forest Stewardship Council (FSC) certification process, an international non-governmental organisation that has developed a process of verifying that forests are managed in a sustainable manner.
Achievement of certification means Irish forest products companies will be able to carry the FSC eco-label on their products thus providing consumers with assurances that the timber they buy comes from well-managed forests.