Tree planter Carbon Conscious Ltd expects its net profit in the 2011/12 financial year to rise 309 per cent to $3.5 million.

Carbon Conscious develops “carbon forest sinks”, which involves planting millions of trees that sequester carbon, on behalf of big businesses such as Origin Energy.

Carbon Conscious on Tuesday said its profit forecast was based upon its expectation of completing its 2012 planting program of 10,000 hectares to sequester carbon and claim carbon credits.

“Carbon Conscious is in a strong position with the passage of the Clean Energy Act in November 2011 and the exercise of Origin Energy’s 2012 planting options on November 11, 2011,” Carbon Conscious chief executive Peter Balsarini said in a statement.

“These major milestones have provided the company with excellent momentum.”

The company said its target planting programs was 20,000 hectares in 2013 and 30,000 hectares in 2014.

Shares in Carbon Conscious were nine cents, or 46 per cent, higher at 28.5 cents at 1304 AEDT on Tuesday.