US forest products company Potlach Corporation’s first quarter profits grew to US$3.8m, compared to a loss from continuing operations of US$6.3m a year ago.
Potlach’s net sales totalled US$336.2m, up from US$316.5m in the first quarter of 2004.
The company’s wood products division recorded operating profits of US$8.8m, compared to US$11.7m a year ago.
The division’s net sales grew slightly due to higher selling prices for lumber products, but these were offset by increased log costs.
Potlach said homebuilding activity continues to be strong but housing starts “may not reach the record levels of the past two years”.
