West Fraser Timber, the Canadian forestry company with operations in the southern US states, moved back into profit in the first three months of the year.
Improved lumber prices helped the company to C$19.4m profit from a loss of C$83m loss a year before. Sales rose to C$687.8m from C$558m.
The company warned that price increases were due mainly to weather and market-related downtime, and prices may decline later this year as more production comes on stream.
Chief executive Hank Ketcham said that the results reflected cost control and improved efficiency. “These efforts, along with improved pricing for our products, have positioned West Fraser to return to profitability.”
