Border Timbers profit declines

BORDER Timbers Limited after-tax profit slumped to $1,2 million for the year ended June 2013 due to a decline in revenue.

Last year the company recorded an after-tax profit of $1,8 million.
In a statement accompanying the group’s audited financial results, Border Timbers Limited chairperson Kenneth Schofield said the group’s revenue declined by 14 % to $24 million due to the closure of the veneer mill at Paulington factory which are expected to enhance profitability going forward.

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