Canadian-owned Sino-Forest Corporation has announced first quarter net profits of US$5.9m, an 118.5% growth on the same quarter in 2003.
The company, which operates plantations in southern China, recorded sales of US$40.8m, up 6.5% on a year ago.
Sales of wood-based products grew 7.2% to US$13.4m, while the wood chips division saw revenue rise by 4.8% to US$14.6m. Standing timber sales of eucalyptus, pine and aspen increased 9.4% to US$10.5m.
