West Fraser posts a profit of $19 million

West Fraser Timber has posted a profit of $19 million in its first quarter ($0.45 a share).

West Fraser Timber owes its profit to rebounding lumber prices. The company warned that prices may decline later this year though, as idled production capacity elsewhere in the industry comes back online. This will be especially true if the U.S. housing construction market does not have a significant improvement this year.

The company, which shut down its Eurocan linerboard mill in Kitimat, British Columbia, late last year, said its profit from continuing operations was C$34 million, versus a loss of C$80 million a year ago.

Sales were C$688 million, up from C$558 million.

Read more:

West Fraser profits from rebound in lumber prices (The Vancouver Sun)