Tasmanian forest products company Gunns Limited today announced a substantial increase in net profit after tax for the half year.The company's profit of $33.6 million was up 95 per cent on the prior corresponding period.Earnings before interest and tax increased 57 per cent to $69.3 million. This included non-operating income from the revaluation of financial instruments of $12.0 million (pre tax) and non-operating expenses of $3.5 million (pre tax) arising from business restructuring costs.Gunns Chairman John Gay said the result was driven by a solid performance by the core forest products division.``Forest products revenue increased 18 per cent to $355.9 million, while earnings increased 23 per cent to $59.8 million,'' he said.The board declared a fully franked interim dividend of 2 cents per share, to be paid on April 20.More details and reaction in tomorrow's edition of The Examiner.