Oregon Group more than doubles annual profit, fattened by asset revaluations

Tue, 01 Nov 2016

By Paul McBeth Nov. 1 (BusinessDesk) - Oregon Group, which controls the country's fourth biggest forest estate Ernslaw One, more than doubled its annual profit, with the bottom line propped up by gains in the value of forestry and the sale of increasingly expensive carbon credits. Net profit rose to $96.9 million in the 12 months ended June 30 from $40.4 million a year earlier, accounts filed to the Companies Office show. Oregon is owned by Malaysia's Tiong family, with a local portfolio including Ernslaw One, a cornerstone stake in rece...

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