West Fraser Timber reports Q1 profit of $19 million
Apr 26, 2010. West Fraser Timber Co. Ltd. reported earnings after discontinued operations of $19 million for the 1Q 2010. Earnings from continuing operations were $34 million on sales of $688 million. Sales were $688 million, up from $558 million.
Apr 26, 2010. /Lesprom Network/. West Fraser Timber Co. Ltd. reported earnings after discontinued operations of $19 million or $0.45 per share for the 1Q 2010. Earnings from continuing operations were $34 million or $0.79 per share on sales of $688 million. Sales were $688 million, up from $558 million, company said in a statement received by Lesprom Network.
The company's lumber operations were significant contributors to the positive results as prices for both SPF and SYP lumber increased substantially in the quarter as a result of the continuing curtailments by many producers in North America and inventory restocking throughout the distribution chain. Lumber prices rose despite continuing depressed housing starts in the United States.
In the quarter the lumber segment recorded operating earnings of $36 million and EBITDA of $66 million.
West Fraser is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint.