VANCOUVER–Canfor Corp claims it had a bottom line of $350.1 million in its last quarter as it took writedowns and problems fees associated with mill closures in a down lumber market.
The forestry business claims the bottom line exercised to $2.96 per share, compared to a bottom line of $23.1 million or 19 cents per share in 2014.
Canfor claims its B.C. procedures remain to battle with minimal accessibility to financial fiber, weak lumber costs, climbing operating expense, enhanced tolls and numerous regulative intricacies.
Company president Don Kayne claims it was an additional exceptionally difficult quarter that pressed it to reveal a pullback in procedures.
During the quarter, Canfor revealed the closure of mills inFort St. John and Plateau in north B.C., bring about a property write-down and problems cost of $100 million, plus $38.6 million in restructuring prices.
It claims that when changed, results exercised to a loss of $139 million, comparable to the $135-million changed loss it had in the 2nd quarter, while 3rd quarter in 2014 it had a modified loss of $19.4 million.
This record by The Canadian Press was very first releasedOct 25, 2024.
Companies in this tale: (TSX: CFP)
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