HK-listed Greenheart buoyed by Chinese demand for NZ logs

Tue, 01 Apr 2014

By Paul McBeth April 2 (BusinessDesk) - Hong Kong-listed Greenheart Group, which owns the 13,000 hectare Mangakahia forestry estate in Northland, narrowed its annual loss as the New Zealand unit propped up the forestry group with growing Chinese demand for logs. The company reported a net loss of HK$60.3 million in calendar 2013 from a loss of HK$144.4 million the year earlier, with a 46 percent gain in revenue to HK$724.6 million. Earnings before interest, tax, depreciation and amortisation soared 595 percent to HK$182.8 million. The New Z...

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