According to the company's most recent annual report, the state-owned company earned a $4 million profit last financial year, compared to $38.5 million in 2018-19.

Despite the result, the company still paid a $2 million ordinary dividend to the government.

In other news:

It paid the same dividend to the government in 2018-19.

In the report, company chairman Rob de Fegely and chief executive Steve Whiteley said wood production had recovered from the lower levels of the previous year to nearly 1.6 million tonnes of forest products.

This included the supply of 119,000 cubic metres of high quality eucalypt sawlogs to customers.

However, the company is required under the Forest Management Act to make available a minimum of 137,000 cubic metres of high quality eucalyptus sawlogs each year.

The pair said the company encountered challenges with two of our major customers who temporarily closed for parts of the year.

"Despite this, production targets and customer demand were largely met," they said.

The company harvested 5798 hectares of native forest in 2019-20 and 1693 hectares of plantation forest.

It earned $147 million from forest product sales.

There were 16 contractor lost time injuries over the reporting period.

Of these, four were serious incidents with high risk of fatality.

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