© 1963 by Institute of Chartered Foresters
The Economics of a Private Forestry Enterprise in South-east Scotland
Scottish Woodland Owners Association
The annual income and expenditure accounts have been summarized for the period 1949–61. The woods had not previously been under regular management and due to war fellings were only 60 per cent, stocked in 1949. The treatment policy has been restocking and rehabilitation with minimum cash investment. The local conditions, management history, and growing stock are briefly described, and a book valuation is presented to show value of land plus growing stock at the beginning and at the end of the period. The book profit on 806 acres averaged £5. 6s. per acre per annum, of which £3 per acre is increase in book valuation. This is equivalent to a yield of 6.4 per cent, on an average book value of the land plus growing stock of £70,000. The yield per cent, is expected to fall as the capital value of the growing stock increases. Although these figures may give a reasonably accurate account of the financial results, it is considered that they underestimate the true value of the woodlands to the estate economy.