Boise Cascade Holdings has reported a massive US$175m growth in its 2004 wood product profits, thanks largely to increased prices.
The company’s wood products division made profits of US$218.6m compared to US$43.5m in 2003, while sales were also up to US$1.36bn from US$1.11bn.
Boise attributed the good performance to a 22% rise in plywood prices and 27% growth in lumber prices. Increased prices and sales for engineered wood products also boosted earnings.
Building materials distribution sales rose 39%, due to a 15% rise in sales and 21% hike in prices.
The company’s overall sales for 2004 were up 23% to US$5.7bn, while net profits soared to US$94.2m from a US$47.4m loss in 2003.
