Augmented by proceeds from its contracts to administer forestry projects, it is being reported that Woodchipper Gunns Ltd. has raised its earnings guidance for the 2009/10 financial year. These forestry projects previously were below the wing of bowed agricultural projects group Great Southern.

The Company had amended its earnings guidance with projected full year earnings before interest and tax between the estimates of $50 to $60 million, said Chris Newman, Chairman of Gunns.

Gunns had formerly directed the market that it estimated full year earnings before EBIT in the range of $30 million to $40 million. Three impending equity contributors in Southern Star Corporation had advanced to thorough due assiduousness, having lodged hints of the level of equity they may be ready to subscribe.

When Gunns organized its accounts for the six months ended December 31, 2009, said Mr. Newman, it temporarily accounted for the attainment of the Great Southern managed investment scheme errands.

"The accounting treatment for this acquisition and ongoing revenue recognition from the Great Southern MIS responsibilities has now been finalized. As a result, approximately $30 million in EBIT, compared to a conservative estimate of approximately $8 million in EBIT contained in our earlier forecast, will be included in our results for the full year”, he said in a statement.