A fall in plywood sales volumes and prices has hit profits at Boise Cascade Company’s wood products division.
The division recorded first quarter net profits of US$33.1m, down from US$44.1m a year ago, while sales were marginally up to US$322.4m from US$321.3m. Higher sales and prices for the company’s engineered wood products helped to offset the decline.
Boise’s overall net profit was US$64.7m, compared to US$2.1m a year ago, although the first quarter of 2004 includes financial results from when OfficeMax Inc operated the business.
Meanwhile, Canadian forest products company Ainsworth Lumber Co Ltd generated first quarter net profits of C$55.1m, up from C$19.8m 12 months ago, with sales up 81.3% to C$345.6m.
OSB output grew by 122.8% due to the acquisition of four OSB mills during 2004.
