Mr. Gerry Britchfield:

The board is made aware of every sale of land we make and it notes that at each monthly board meeting.
Moving on to the next question, which was about adding value to timber products, some of our own sawmill customers have been quite innovative in recent years. I am not as familiar with what they are doing, but I know what our panels business is doing. We are focusing on adding value to the small-diameter fibre we use in those businesses. We have an active innovation pipeline and, typically, at any particular point we have a dozen products to examine. We have brought at least three or four to market annually in recent years. We are looking at opportunities, including the off-site construction sector, which is growing across Europe on the back of a requirement to have much more energy efficiency built into homes and office buildings. We are designing products that will suit the off-site construction requirement.

We have an active innovation programme in our panels business which, until recently, was supported by Enterprise Ireland. We are in a hiatus with EI at the moment, as we have come out of one programme and are seeking to work with it again in terms of grant aid for our follow-on programme.