AbitibiBowater forecasts big profits

AbitibiBowater is forecasting big profits for its future. The company is projecting over $1.5 billion (U.S.) in net profits over the next four years.

AbitibiBowater expects to overcome a projected US$427 million loss this year to earn US$295 million in 2011, US$387 million in 2012, US$384 million in 2013 and US$445 million in 2014, according to a report filed with the Quebec Superior Court.

Revenues are forecast to grow by 14.5% to US$5.34 billion in 2011 from US$4.66 billion in 2010. They would then remain stable through 2014.

AbitibiBowater expects its enterprise value will be US$3.7 billion including US$1.25 billion in debt. Its new stock would be valued at US$2.4 billion.

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AbitibiBowater forecasts return to US$1.5 billion in profits through 2014 (The Canadian Press)