Perth-based carbon sink firm CO2 Group says its earnings before interest and tax will exceed $4 million this financial year, up from $2.2 million in the previous corresponding period.
CO2 put the rise in earnings down to exceeding performance expectations, with its planting program in WA complete and its NSW program ahead of schedule.
“The board is pleased with the projected 2012 financial year outcome and looks forward to presenting the full-year results in late November,” the company said in a statement.
CO2 Group lodged a net profit of $1.6 million in the six months to March 31.
At close of trade today, CO2 shares were steady at 14 cents.
