Plum Creek Timber Company’s 2009 financial results show profits of US$236m (2008: US$233m) from sales of US$461m.
During the fourth quarter, it recorded profits of US$28m (2008: US$95m).
“Business conditions stabilized in the second half of 2009, and we’ve seen some modest recovery from the extreme lows set earlier in 2009” said Rick Holley, Plum Creek CEO and president.
“While we believe recovery in our core businesses will continue in 2010, we believe the recovery will be slow by historic standards.”
The company plans to harvest 15-16 million tonnes of timber in 2010, with a significant portion of its valuable northern harvest volume continuing to be deferred until future years because of low pricing.
Smaller diameter sawlog volumes will increase in the southern harvest region.
