Canfor Pulp Products Inc. (“CPPI”) reported net income of $24.1 million, or $0.36 per share, for the 1Q 2017, compared to $10.1 million, or $0.15 per share, for the 4Q 2016 and $23.1 million, or $0.34 per share, for the 1Q 2016.
The Company reported operating income of $35.2 million for the 1Q 2017, up $12.3 million from $22.9 million reported for the 4Q 2016. The improvement in the Company’s operating results was primarily attributable to higher pulp shipments during the current quarter, which reflected the strengthening of the global softwood pulp markets, and stronger-than-anticipated customer demand, particularly from Asia.
Commenting on the Company’s 1Q 2017 results, CPPI’s CEO, Don Kayne said, “Despite several weather related challenges early in the quarter, Canfor Pulp delivered another solid financial performance, as the Company benefited from stronger-than-expected global softwood pulp demand as well as productivity gains.”
Canfor Pulp Products Inc. is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia, Canada.
