Western Forest Products and Interfor figures highlight slow recovery
8 August 2011The first half reports of two big names in Canadian forest products underline the slow pace of recovery in the sector.
Western Forest Products reported second quarter sales of C$222.7m, compared to C$184.8m in the same period in 2010. This took first half sales to C$407m, against C$326m. However, second quarter earnings before interest, tax, depreciation and amortisation were the same as the year before at C$22.3m, giving a first half EBITDA figure of C$30.6m, against C$31.7m.
Interfor reported a net loss of C$5.3m for the second quarter compared with a loss of C$3.5m in 2010, giving a net deficit for the first half of C$7.2m against C$7.4m.
First quarter sales were C$192m compared with C$161m, taking turnover for the first half to C$375m, against C$303m.
Lumber production in the second quarter was 325 million board feet, a fall of 7 million board feet on quarter one. Interfor attributed this to log availability.
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