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Ministry of Agriculture & Rural Development
___________________________________________________________________________

CARD Project Progress Report

033/05 VIE
Field evaluation and advanced vegetative masspropagation technology for scaling up high-value
plantations of Pinus caribaea and related hybrids
in Vietnam

Milestone 6

Second Six Monthly Project Progress Report
February – July, 2007

Research Centre for Forest Tree Improvement
Forest Science Institute of Vietnam
Chem, Tu Liem, Hanoi, Vietnam
and
Forestry Plantations Queensland
GYMPIE – Queensland 4570, Australia

1


Institution Information
Project Name

Field evaluation and advanced vegetative masspropagation technology for scaling up high-value
plantations of Pinus caribaea and related hybrids in
Vietnam



Vietnamese Institution

RCFTI, Forest Science Institute of Vietnam (FSIV), MARD

Vietnamese Project Team Dr Ha Huy Thinh
Leader
Australian Organisation

Forestry Plantations Queensland (Formally trading as DPI
Forestry)

Australian Personnel

Mr Ian Last

Date commenced

February 2006

Completion date (original)

February 2008

Completion date (revised)

February 2008

Reporting period


6 months to July 2007.

Contact Officer(s)
In Australia: Team Leader
Ian Last
Name:
Manager, Technical Services
Position:
Organisation Forestry Plantations Queensland

Telephone:
Fax:
Email:

+61 (0) 7 5482 0891
+61 (0) 7 5482 3430


In Australia: Administrative contact
Ian Last
Name:
Manager, Forest Policy
Position:
Organisation Forestry Plantations Queensland

Telephone:
Fax:
Email:

+61 (0) 7 5482 0891

+61 (0) 7 5482 3430


In Vietnam
Dr Ha Huy Thinh
Name:
Director
Position:
Organisation Research Centre for Forest Tree
Improvement, (RCFTI)

Telephone:
Fax:
Email:

Office: (84) 4 8389369
(84) 4 836 2280



2


1. Project Abstract
The Project seeks to review existing experience with and performance of several tropical
conifer species in Vietnam, particularly Caribbean Pine, and to establish further trials of
improved genetic material, including hybrids.
The project will also provide capacity building for Vietnamese Forest Research institutions
relating to Pinus tree improvement and mass propagation systems via training in
Queensland (Qld) and Vietnam, development of small scale hedge and nursery

infrastructure, and a study tour to Australia, involving innovative Vietnamese forest
managers / researchers.
Finally, the project will build awareness amongst large and small-scale forest growers
including ethnic minorities, through the establishment of collaborative demonstration
plantings in priority regions for Pinus plantation expansion, supported by appropriate
training.
Key achievements during the reporting period include:
1. Completion of Nursery Manual for the production of Pinus cuttings (Milestone 5)
2. Pilot scale hedge facilities functioning at 3 sites for the production of Pinus cuttings
(part of Milestone 7)
3. Successful delivery of nursery training courses at Ba Vi (Ha Tay) and Dalat (Lam
Dong)
4. Plants raised for demonstration plantings and sites confirmed (part of Milestone 9)

2. Executive Summary
Progress during the third 6 month reporting period has been in accordance with the project
Logframe. Highlights include:


Completion of nursery manual;



Delivery of nursery training at Ba Vi and Dalat;



Experimental bulk harvest and setting of pine shoots following nursery training; and




Raising plants and confirmation of sites for demonstration plantings

Key challenges during the next 6 months include fine tuning hedge and nursery techniques at
the 3 pilot nurseries, maintenance and monitoring of genetic evaluation trials and
establishment of demonstration plantings.

3. Introduction and Background
Project objectives, outputs expected, approach and methodology are as follows:
Objective 1: Identify the most highly productive, well-adapted varieties and hybrids of Pinus
caribaea, in comparison to other pine species currently planted, for priority pine planting
zones.

3


Output 1.1: Review and report comparative performance of pines in Vietnam based on
existing trials and related information.
Output 1.2: Establish genetic evaluation trials to compare performance of locally
available and introduced pines on multiple sites throughout key regions in Vietnam.
Output 1.3: Review pine genetic resources and related breeding strategies and
capabilities / resources in Vietnam, particularly for Pinus caribaea and related hybrids.
Objective 2: Provide practical training and support to forest research institutes in Vietnam to
enable the development and local adaptation of hedge and containerised nursery systems for
the mass propagation of pine cuttings
Output 2.1: Trained personnel able to establish and manage hedge beds, collect and set
shoots and raise containerised cuttings.
Output 2.2: Locally adapted Nursery Manual and related checklists developed
Output 2.3: 3 Pilot scale hedge and containerised nursery facilities established and
various prescriptions tested.

Objective 3: Create improved awareness amongst rural poor smallholders and industrial
forest growers in key pine growing regions, regarding the potential performance of improved
varieties of Caribbean pine to supply a range of forest products and services via the
establishment of demonstration plantings in collaboration with local land owners.
Output 3.1: Establish two demonstration trials with a large scale forest grower
Output 3.2: Establish community and individual farmer managed plantings in
collaboration with two local ethnic minority communities
The approach and methodology to achieve these objectives and outputs includes:


Practical nursery training (in Queensland and Vietnam), supported by manuals;



Development of pilot nursery facilities to test and locally adapt new methods;



Study tours to expose Vietnamese researchers to novel approaches to forest
management;



Review and analysis of existing tree improvement trials and strategies and the
development of revised approaches, supported by new field trials and demonstration
plantings

4. Progress to Date
4.1


Implementation Highlights

General
Inception Meeting at Hanoi (15/2/06) attended by over 20 participants
Study tour to Australia by Vietnamese researchers (Jun’06)
Objective 1
Output 1.1: Completed. Technical report titled “Review of the Performance and
suitability of Pinus caribaea in Vietnam” submitted to CARD PMU (Milestone 8)
Output 1.2: Completed. Genetic evaluation trials established at 6 sites. Report
submitted under Milestone 4.

4


Output 1.3: Ongoing discussions with RCFTI staff regarding enhancements to
current breeding strategy based on key findings from Output 1.1.
Objective 2
Output 2.1: Nursery training completed Qld (May’06) and Vietnam (May’07)
Output 2.2: Completed Nursery Manual finalised (June-July’07) following training
in Vietnam (May’07) (awaiting translation)
Output 2.3: Pilot hedge sites at Ba Vi, Phu Ninh and Dalat constructed mid 2006 and
operating effectively for May’07 training courses.
Objective 3
Output 3.1 Demonstration planting with local minority people at Dak P’Lao (Dak
Lak) scheduled for July/Aug’07
Output 3.2: Demonstration plantings with commercial forest growers are scheduled
for Aug’07 (near Dalat, Lam Dong) and Oct/Nov’07 (Nghe An)
Refer to the attached Progress Report Logframe for further details.
4.2


Capacity Building

Previous capacity building initiatives have been reported as part of earlier Progress Reports.
4.3

Training Programs

On site nursery training was provided at Ba Vi (Ha Tay) and Dalat (Lam Dong) in May’07.
This involved practical and theoretical training in nursery design and hygiene, potting mix
preparation and testing, hedge layout and management, shoot collection and setting, watering
and nutrition regimes and sorting and conditioning guidelines field prior to field planting. To
reinforce learning outcomes, a Nursery Manual (originally prepared as part of the June’06
training in Queensland) has been revised following the training in Vietnam. It is currently
awaiting translation and both versions will be provided to CARD PMU staff when complete.
4.4

Publicity

No significant publicity has occurred during past 6 months.
4.5

Project Management

There have been no major Project Management issues.

5. Report on Cross-Cutting Issues
5.1

Environment


There have been no major (negative) environmental issues associated with the Project.
Health risks associated with some of the sterilising agents (eg chlorine) were highlighted to
nursery trainees and are also covered in the Nursery Manual.
5.2

Gender and Social Issues

Nursery training in Vietnam involved a mix of genders on both the delivery and trainee sides.

5


6. Implementation Issues
6.1

Issues and Constraints

To date, there have been no major issues or constraints affecting the overall planned
objectives and outputs. Minor issues are addressed in further detail within the logframe.
Briefly these relate to:
Genetic trials: Recent (May’07) inspections reveal that survival is patchy for some
trials and vigorous Acacia and eucalypt regrowth threatens to overtop some of the
young (and small) pine trees. Additional tending (up to 3 times per year) and refilling
of gaps where possible, is planned.
Most new genetic trials have received a 6-month assessment. The Australian Project
Leader is awaiting a translated version of the report to inform future management
options.
Demonstration Trials: Poor germination amongst some of the proposed treatments
will limit the size and diversity of some of the planned demonstration trials.
Hedge Management: In general the pilot hedges at all three sites look good.

Guidelines for pruning back the hedges were provided following the May training
sessions to encourage the development of healthy new shoots and reduce
“maturation” effects. The Australian Project Leader has requested periodic progress
reports to ensure hedge vitality is maintained.
Nursery setting areas. While the pilot nursery sites have shaded areas for freshly-set
shoots, they also require well-drained open-sun areas for the shoots once rooting
commences. Customised guidelines were provided for each of the three nurseries
following the May training sessions and the Australian Project Leader has requested
periodic progress reports.

7. Conclusion
Overall, the project is progressing well with most planned activities either complete or welladvanced. The Nursery Training in Vietnam and related site inspections and discussions was
beneficial for all parties. A range of issues arising from the May’07 visit has been provided
to the Vietnamese Project Leader to follow up with relevant project staff.
Depending on progress with various project tasks and the availability of key personnel, a
final project visit is scheduled for late 2007 or early 2008.

6


Project Progress Against Proposed Objectives, Outputs, Activities And Inputs
Project Title: Field evaluation and advanced vegetative mass-propagation technology for scaling up high-value plantations of Pinus caribaea and related hybrids in
Vietnam.
Vietnamese Implementing Institution: RCFTI, Forest Science Institute of Vietnam (FSIV), MARD
Narrative
OBJECTIVE 1

OUTPUT 1.1

ACTIVITY

1.1.1
1.1.2

Information Required
Identify, for the benefit of existing and
prospective pine growers in Vietnam, the
most highly productive, well-adapted
varieties and hybrids of Pinus caribaea, in
comparison to other pine species currently
planted, for priority pine planting zones.

Review and report on comparative
performance of tropical pines in Vietnam
based on existing trials and related
information.

Consult with past & present Vn
researchers regarding existence of pine
trials and related data
Obtain relevant reports and related data &
inspect trials within limits of project
resources

i.

PROPOSAL
Performance Measures
Existing trials reviewed

ii.


New trials established

Pine breeding strategy and related
capacities reviewed and
strengthened

Timely delivery of “easy to read”
(and translate) report that takes
account of all relevant & available
information, including information
from recent trial assessments.

Jan-Feb ’06 (UQ – incl. Site visits)

Jan-Feb ’06 (UQ)

Assumptions
1. Trials can be translated and collated
in an appropriate time frame.

PROGRESS REPORT
Information Required
Project objective still relevant.
No need to modify logframe

2. Suitable sites can be identified for
trials.
3. Interference/ disturbance to trial
areas can be minimised.

4. UQ researcher can obtain sufficient
information from relevant Vn staff
during & after field visits
1.Existing information & data can be
readily located (& translated if
necessary) & provided to UQ
researcher

• Output

still relevant. Preliminary
investigations revealed some limitations
with existing field trials and associated
data.

2. Priority trials can be accurately reassessed in a timely fashion.
3. UQ researcher can analyse available
information & prepare report on time
In Progress Report 1

In Progress Report 1

• Activity completed during Feb & Jul’06

site visits & via e-mail contact during
intervening period.
As per 1.1.1. Inspections / discussions
revealed some shortcomings in existing
data. (Not a major issue to overall
objective)


7


1.1.3

Identify priority trials & re-measure

Feb – March’06 (UQ/RCFTI/FRC)

In Progress Report 1

1.1.4

Data analysis

April-May’06 (UQ)

In Progress Report 1

1.1.5

Draft Report & seek feedback from
partners
Final report
Presentation at Stakeholders Workshop

June’06

In Progress Report 1


July’06
Sept-Oct’07

Final Report
In Final Progress Report

Establish genetic evaluation trials to
compare performance of locally available
and introduced pines (esp. PCH &
hybrids) on multiple sites throughout
North Central, Central Coast and Central
Highlands regions of Vietnam.

Trials properly established on 5-6
sites using agreed replicated design
and taxa treatments. Likely sites
include:

Suitable sites can be readily confirmed
& prepared for planting

Activity 1.1.6
Activity 1.1.7
Output 1.2

(Output will support local research
institute capacity building in relation to
planning & implementation of field trials.
Well established / maintained/ assessed

trials will provide valuable medium - long
term information on performance of
various pines in Vietnam, to support
longer term social & economic
development options).
Activity 1.2.1

Activity 1.2.2

Ba Vi, Ha Tay (RCFTI)
Lap Thach, Vinh Phuc (FRC)
Pleiku, Gia Lai (TFRC)
Dai Lai, Vinh Phuc (NCC FR&P)
Lang Hanh, Lam Dong (LDFRC)
Hoanh Bo, Quang Ninh (Nontimber FRC)
Nam Dan, Nghe An

Priority trials were identified during
(Aug’05 Site Visit) & Feb’ 06 Inception
Meeting / visit.
Dr Dieters (UQ) conducted data validation
& analysis during Jul’06 visit in
consultation with Vn researchers
Draft report prepared Aug’06
Final report submitted under Milestone 8
On target for completion
Project Output still relevant.

Sufficient stock for each treatment x
site can be raised in time for planting

season
Skilled labour is available to establish
trials at each site & weather conditions
are favourable
FPQ staff are available to provide field
support / training including assist with
report preparation

Identify trial partners, trial sites, trial
design, including genetic treatments and
working plan(s) for each site

Jan-Feb 06: (DPI Forestry, UQ,
RCFTI & relevant Vn partners)

In Progress Report 1

Raise plants for trials including imports
from Queensland, raising seedlings and
cuttings to meet best planting seasons for
each trial

5- 6 months before planting (see
below), ASAP for material to be
imported from Qld

In Progress Report 1

All activities completed & on time


Activity completed.
Original trial design was modified to take
account of lower than expected seedling
germination rates.

8


Activity 1.2.3

Activity 1.2.4

Prepare site(s) for planting

6-8 weeks before planting (see
below)

In Progress Report 2

Plant trials and complete “entry check” to
ensure quality control

North/Hanoi – May – August’06

Refer Milestone 4 report

Activity completed.

Activity completed.


Central Coast: Nov-Dec’06
Central Highlands: June – Aug’06

Activity 1.2.5

Activity 1.2.6

Output 1.3

Activity 1.3.1

Activity 1.3.2

Activity 1.3.3

Early age assessment of trials

Jan – March’07

In Progress Report 3

Progress report & presentation at
Stakeholders Workshop

Sept – Oct’07

In Final Progress Report

Review pine genetic resources and related
breeding strategies and capabilities /

resources in Vietnam, particularly for PCH
and related hybrids

Overview report including
recommendations for future
directions

Consult with past & present Vn
researchers regarding relevant pine trials,
breeding populations, institutional / staff
capabilities/facilities and related data

Jan-Feb ’06 (UQ – incl. Site visits)

In Progress Report 1

Prepare Review report including
recommendations

Oct’07

In Progress Report 3

Deliver training to selected Vn researchers
on aspects of tree improvement including
hybridisation, pollination, grafting and
breeding strategy development

June’07


Activity completed. Awaiting translated
report
To be completed in Final Progress report.

Project Output still relevant.

Tree improvement training provided
to selected Vn researchers
Activity completed.

Activity completed.

ACIAR sponsored trainee received training
in Queensland (3 months Aug – Nov’06)

9


Activity 1.3.4

Objective 2

To be completed in Final Progress report

Present key findings at Stakeholders
Workshop

Sept – Oct’07

In Final Progress Report


Based on proven technology and systems
in Queensland, provide practical training
and support to forest research institutes in
Vietnam to enable the development and
local adaptation of hedge
and
containerised nursery systems for the
mass propagation of containerised pine
cuttings

i. Trained

• Availability of suitable staff to Project objective still relevant.

personnel able to
establish and manage hedge beds,
collect and set shoots and raise
containerised cuttings.

ii.

Locally
adapted
Nursery
Manual and related checklists
developed

iii. 3 Pilot scale hedge and
containerised nursery facilities

established

attend & deliver training
& checklists are an
acceptable form of tech transfer for
nursery management & techniques
• Land, water, other infrastructure &
facilities, skilled labour, institutional
support and in-kind resources are
available to establish pilot facilities
at each site (3). Qld equipment &
materials is readily imported to
target sites.

• Manuals

Output 2.1

Trained personnel able to establish and
manage hedge beds, collect and set shoots
and raise containerised cuttings.

Number of “accredited”
following training sessions

Activity 2.1.1

Visit partner nurseries in Vn to meet key
staff, conduct situation analysis


Jan – Feb’06 (DPI Forestry)

Activity completed during Feb’06 visit to
Vn

Activity 2.1.2

Deliver “hand on” intensive training in
Qld to 4 Vn participants

April – May’06 (DPI Forestry)

Activity completed in May’06.

Activity 2.1.3

Maintain contact with Vn partners via
periodic e-communications

Throughout (& beyond) project
duration

Activity ongoing. Suggestions provided to
partners

staff

Training methods and facilities are
relevant and suitable for proposed
training program.


Output still relevant and achievable.

Contact includes e-mail of photos of various
stages of nursery development.
Activity 2.1.4

Follow up face to face contact in Vn &
broader based training to a wider range of
participants, following several month local

April – May’07 (DPI Forestry)

Activity completed in May’07 as reported
in this Milestone report.

10


experience using the “Qld system”
Activity 2.1.5

Presentations
by
Vn
&
Qld
trainees/trainers at Stakeholder Workshop

Sept – Oct’07 (DPI Forestry & Vn

nursery partners)

Output 2.2

Locally adapted Nursery Manual and
related checklists developed

Manual & Checklists produced

Activity 2.2.1

Review relevance of Qld Manuals /
Checklists following initial visit to Vn

March’06 (DPI Forestry)

Activity completed in Feb - May’06.

Activity 2.2.2

Develop Draft Documentation (V1) &
seek feedback from Vn partners

April – May’06 (DPI Forestry)

Activity completed in Feb - May’06.

Activity 2.2.3

Further “Road Testing”


Ongoing (Vn nursery partners)

Draft Manual translated (Jun – Jul’06) to
Vietnamese and hard copies provided to all
3 participating Nursery Managers
Activity ongoing.

Activity 2.2.4

Presentation of Draft (V2) Manual &
Checklists to Vn Workshop Participants

April – May’07 (DPI Forestry)

Output 2.3

3 Pilot scale hedge and containerised
nursery facilities established & various
prescriptions tested.

3 functioning pilot scale hedge /
containerised nursery complexes

Activity 2.3.1

Confirm proposed design & scale for
proposed facilities with respective
partners, including materials list


Jan-Feb’06 (DPI Forestry & Vn
nursery partners)

Activity completed in Feb - May’06.

Activity 2.3.2

Complete site works, source materials &
construct facilities

Mar-April’06

Activity completed

Activity 2.3.3

Raise hedges and containerised stock in
pilot
facilities,
(including
various
prescriptions) providing regular feedback

Ongoing

Progress inspected May-June’07 &
suggestions for improvement provided

In Final Progress Report
Vn partners can arrange timely and

accurate translations

To be completed in Final Progress report.
Output still relevant and achievable.
No major issues regarding timing and
quality of planned output.

Final version of Manual being translated
(Jul – Aug’07)
Management support will be secured
early to minimise any delays in
securing suitable sites, equipment &
personnel to establish facilities

Project Output still relevant.
No major issues regarding quality and
timeframe (slight delay in completion of
pilot nurseries)

11


to all partners on problems & progress
Activity 2.3.4

Follow up site inspections of all facilities
and face to face discussions with site
managers
including
recommended

modifications

April-May’07 (DPI Forestry &
nursery partners)

See above

Activity 2.3.4

Report progress at Stakeholders Workshop

Sept-Oct’07 (DPI
nursery partners)

To be completed in the Final Progress
Report

3

Create improved awareness amongst rural
poor smallholders (particularly central
highland minorities) and industrial forest
growers in key pine growing regions,
regarding the potential performance of
improved varieties of Caribbean pine
(including hybrids where appropriate) to
supply a range of forest products and
services via the establishment of large
scale
demonstration

plantings
in
collaboration with local land owners /
forest growers.

i. Establish 2 demonstration trials
with a large scale forest grower
(Vinapaco)

Output 3.1

Establish demonstration trials with a large
scale forest grower
(Extend knowledge & awareness of PCH
potential vs currently planted pines (P.
kesiya & P. merkussii by initially
involving large scale growers. Pending
successful trials (beyond life of project),
Vinapaco may seek wider involvement via
outgrower partnerships with local small
holders)

Activity 3.1.1
Activity3.1.2

Confirm scale, location and treatments for
demonstration plantings at each site
Prepare site, source seed, raise stock, plant

Forestry


&

ii. Establish
community
and
individual
farmer
managed
plantings in collaboration with
local ethnic minority community
near Dak P’Lao, Dak Lak and
Lam Dong FRC

Successful demonstration plantings
in major plantation regions with
pine potential viz:
Dak To, Kon Tum (central
highlands)

Suitable sites can be confirmed &
partners are willing to commit the
necessary in-kind resources, including
labour to plant, maintain

Project objective still relevant.

Seek high level Vinapaco support to
ensure that local partners can secure
necessary resources to establish,

maintain & protect trials

Project Output still relevant.

No need to modify logframe

Nghe An, north coast

September’06
7 months leading up to planting in

Activity completed. Sites planned for Dalat
and Nghe An
Stock raised or being raised and due for

12


trials

Activity 3.1.4
Output 3.2

Activity 3.2.1

Activity3.2.2

Activity 3.2.3

Activity 3.2.4

Objective 4

Periodic monitoring & ongoing
maintenance & protection
Report & present progress at Stakeholders
Workshop
Establish community and individual
farmer managed plantings in collaboration
with local ethnic minority community near
Dak P’Lao, Dak Lak and Lam Dong

July’07 onwards

planting July/August (Dalat) and
October/November (Nghe An)
To be reported under later Progress Report

Sept-Oct’07

To be completed in Final Progress Report.

(Provides direct opportunity to interact
with ethnic minorities to determine their
needs & priorities regarding forest /
plantation management generally and
introduction of a new species (PCH) in
particular. Community & (5-7) individual
farmer based plantation models will be
explored)


Activity 3.1.3

June-August’07

Recommendations developed for
further involvement by local
community

Meet with ethnic minority community to
discuss proposed demonstration
planting(s), including perceived benefits &
seek feedback on any special
requirements.
Prepare site (3-5 ha), source seed, raise
stock, plant site

July’06 (LD FRC)

Activity commenced in Feb ’06 with
introductions to members of Dak P’Lao
ethnic minority community (Dak Lak) and
followed up during Nov’06 visit

7 months leading up to planting in
June-August’07 (LD FRC, local
community)
July’07 onwards (LD FRC)

Plants raised, site prepared and scheduled
for planting July/August’07

To be reported under later Progress Report

Sept-Oct’07 (LD FRC)

To be completed in Final Progress Report.

i.

Project objective still relevant.

Periodic liaison with community to
promote monitoring & ongoing
maintenance & site protection
Report & present progress at Stakeholders
Workshop
Project Management meets requirements
of funding agency and all partners

Demonstration plantings established
that take account of special
requirements of local ethnic
minority community.

Partners
regularly
&
adequately informed of progress
(including problems / delays)

Encourage high level of ownership and

responsibility by local community,
supported by relevant hands on
training, to ensure successful
establishment & protection of
demonstration plantings.

Project Output still relevant.
No major issues regarding quality and
timeframe

No need to modify logframe

13


associated with Project
ii. Milestones met and timely
submission of progress reports
iii. Timely and compliant financial
reporting and acquittal / transaction
of fund
Output 4.1

Effective Project Management

Activity 4.1.1

Inception meeting (1) (Hanoi) to meet
project staff & clarify partner roles &
responsibilities

Meeting (2) in Australia, incorporating
Study Tour (4 Vn delegates)

Activity 4.1.2

Activity 4.1.3

Progress Reports (6 monthly)

Activity 4.1.4

Timely & accurate financial acquittals &
records

i. Reports provided as per
schedule indicating progress with
project output
ii. Procurement of equipment
All transactions carried out
Jan-Feb’06 (all partners)

Ensure frequent communication
between partners to manage any
unforeseen staff/organisational changes
with minimal disruption to project.

Project Output still relevant.

Activity completed (15/2/06)


May’06

Activity completed Jun’06

March 2006, Sept’06, March’07,
Sept’07, Feb’08
March’07, Feb’08

This report is the 3rd six-monthly Progress
Report.
Activity ongoing
Separate activity codes established within
FPQ finance system to track costs
(including disbursements to Vietnamese
partner) and revenues.

14



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