TFS grows its profits

SANDALWOOD plantation operator TFS Corporation has reaffirmed its expectation of a net profit of at least $ 90 million in the 2014/ 15 financial year. TFS said it would meet its earnings guidance after selling more than 1500 hectares of new Indian sandalwood plantations during 2014/ 15. Plantations are already operating in the Burdekin. The new plantation sales were up on the sale of 1477 hectares in the prior year, and in line with expectations. TFS booked a 48 per cent increase in net profit to $ 82.5 million in 2013/ 14.