Apr 03, 2006. /Lesprom Network/.  Sino-Forest Corporation announced on Friday its financial results for the fourth quarter and year ended December 31, 2005.

• Revenue increased 31% in the fourth quarter and 49% in year 2005

• EBITDA increased 69% in fourth quarter and 105% for the year

• Net income rose 37% in fourth quarter and 55% for the year to over $80 million

• Diluted earnings per share increased 33% in fourth quarter and 37% for the year to $0.59

• Cash flow increased 39% in fourth quarter; was up 65% to nearly $200 million in 2005

 

In million dollars

 

 

4Q 2005

4Q 2004

Change in %

2005

2004

Change in %

Sales

170.4

130.6

30.5

493.3

330.9

49.1

Gross profit

44.8

38.9

15.3

136.9

101.5

34.8

Net income

27.5

20.1

36.7

81.7

52.8

54.8

 

 

Sino-Forest’s chairman and CEO Allen Chan said, “The forestry and wood fibre industry in China experienced another strong year given the double-digit growth in wood fibre consumption. Consequently, Sino-Forest continued to achieve great results last year as we further developed and strengthened our businesses, mainly our standing timber operation, to take advantage of this strong demand. Our strategic goal is to be the leading and preferred supplier of wood fibre in China. To reach this goal, cash flow will be re-invested into acquisitions and development of plantations and securing access to long-term supply of wood fibre.”