Scottish Woodlands Ltd, the UK’s largest forest management company, reported turnover of £118.2 million in the year to September 30, 2024, up from £111.6 million in the previous year.
Operating profits were steady at £4.54 million — up from £4.61 million — with net assets increasing to £25.96 million from £22.81 million.
Scottish Woodlands Ltd is 80% owned by its employees. It planted more than 3,000 hectares of new woodland in Scotland alone in 2023/24 – the most the company has planted in a year since the 1980s.
The company’s commentary on the results reflect a challenging timber market in 2023/24, but strong demand for specific products like pallets and fencing – and hopes for future demand rising for construction timber.
“Since the period covered by the results, SWL Limited (the parent company of Scottish Woodlands Ltd) has further expanded with the acquisition of RTS Forestry, based in Crieff,” said Scottish Woodlands Ltd.
“The combined group now has more than 300 employees and operates across all of Scotland as well as in the north of England, Wales and Northern Ireland.
“Scottish Woodlands Ltd has 20 offices, in all four parts of the UK, and is headquartered at Riccarton, Edinburgh …
“The company is also committed to growing its own future leaders and recruits an average of six young people per year onto its industry-leading Graduate Development Programme.
“The new recruits to Scottish Woodlands’ Graduate Development Programme this year will take the total number to more than 70 since the programme was launched in 2017.”
Scottish Woodlands Ltd added: “The UK remains in a housing crisis and with the welcome and ambitious new housebuilding targets and planning reforms set by the new Government, should create the stimulus to boost the construction sector and therefore timber demand in 2025.”
The commentary also noted the need for the UK to grow more of the timber it consumes. Scottish Woodlands Ltd said: “Investment in the UK sawmilling industry continues and, with the UK back as the second largest net importer of timber in the world [after] China, [this] underlines the long-term need and demand for domestically produced softwood.
“The company is well- placed to not only meet the requirements of improving markets and increasing demand, but also in delivering … productive forests, something which is greatly needed to reduce the UK reliance on imported timber.”
Scottish Woodlands Ltd MD Ian Robinson, said: “This is a strong set of results, demonstrating our continued ability to adapt to ever-changing and challenging market conditions.
“Scottish Woodlands Ltd continues to be an industry leader in woodland creation and management, and in developing our workforce and using the latest equipment and technology.
“Our carbon team is thriving, with an increasing focus on peatland restoration – and our utilities division, providing forestry services for utility and rail companies, remains a very strong part of the business …
“The acquisition of RTS Forestry in December 2024 signals our desire for further growth, but above all else, our commitment to the continued provision of high-quality services to all our clients across the UK.”