West Fraser sees Q3 profit improve to $70M
Revenue tops $1 billion from $878 million in the quarter.
Pulp & Paper
pulp and paper
VANCOUVER — West Fraser Timber Co. Ltd. has reported third-quarter net earnings of $70 million or 83 cents a share, up substantially from $55 million or 64 cents in the same 2013 quarter.
The integrated forest products company whose products include lumber, plywood, pulp and newsprint among others, said revenues advanced to $1.03 billion from $878 million in the quarter.
Lumber operations generated operating earnings of $101 million, up from $81 in the second quarter, largely as a result of reduced costs and manufacturing productivity improvements related to capital investments, it said.
The panel segment generated operating earnings of $25 million, up from $10 million in the second quarter, as a result of substantially improved plywood prices.
Meanwhile, pulp and paper operations generated an operating loss of $2 million compared with operating earnings of $19 million in the previous quarter, largely the result of scheduled maintenance downtime at its Hinton pulp mill followed by a difficult start-up.
© 2014 The Canadian Press