Canfor said it earned $534-million of $4.29 per diluted share in the first quarter, up from $427.8-million or $3.42 per share a year earlier
is reporting a 25 per cent increase in net profits in its latest quarter on near record high North American lumber prices that also boosted revenues.
Adjusted profits were $529-million or $4.25 per share, compared with $434.2-million or $3.42 per share in the first quarter of fiscal 2021. Canfor was expected to earn net income of $584.2-million on $2-billion of revenues, according to financial data firm Refinitiv. “We are very pleased to see the sustained strength in global lumber markets continuing into 2022 and while our pulp business continued to face challenges, we also saw improved results ,” stated CEO Don Kayne.
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