West Fraser (Canada) earnings drop on U.S. lumber duties
Vancouver, British Columbia, Oct 17. (Reuters). Canadian pulp and timber producer West Fraser Timber Co. Ltd. . said on Thursday that foreign exchange losses and U.S. trade sanctions took a bite out of its third-quarter earnings.
The company said it had net earnings of C$4 million, or 13 Canadian cents per share, in the quarter, compared with a profit of C$31 million, or 91 Canadian cents a share, a year earlier.
Vancouver, British Columbia, Oct 17. (Reuters). Canadian pulp and timber producer West Fraser Timber Co. Ltd. . said on Thursday that foreign exchange losses and U.S. trade sanctions took a bite out of its third-quarter earnings.
The company said it had net earnings of C$4 million, or 13 Canadian cents per share, in the quarter, compared with a profit of C$31 million, or 91 Canadian cents a share, a year earlier.
West Fraser said while net earnings were down, sales in the quarter were up to C$428 million from C$407 million.
The company said its third-quarter results included a charge of C$19 million to pay for U.S. duties and antidumping penalties on Canadian softwood. It also had foreign exchange losses of C$19 million in the quarter.
($1=$1.57 Canadian).