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A Review of VicForests Financial Performance

VicForests, the state government’s native-forest logging agency, has incurred cash losses of $22.2 million since it commenced operating in 2004, says a new report, commissioned by volunteer group Healesville Environment Watch Inc. (HEWI).

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The Real Cost:  A Review of VicForests Financial Performance

VicForests, the state government’s native-forest logging agency, has incurred cash losses of $22.2 million since it commenced operating in 2004, says a new report, commissioned by volunteer group Healesville Environment Watch Inc. (HEWI). This equates to $1.50 for each cubic metre of wood (pulp and saw logs) it has sold. The report was conducted by the New Economics Advisory Service of the Australian Conservation Foundation. It involved examination of the company’s cash flows and balance sheets published in its Annual Financial Reports. link

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The Age: VicForests cash flow under fire story