Canada-based West Fraser Timber has reported 2010 earnings of C$166m (2009: C$346.6m loss).
The company sales reached C$2.8bn, compared to C$2.3bn in 2009.
West Fraser’s lumber operations recorded an operating profit of C$125m, up from a C$190m loss in 2009. Sales also rose to C$1.62bn.
The panels division more than doubled its profits to C$37m (2009: C$14m loss).
“The relative strength of the Canadian housing market and increased demand for lumber in China, combined with supply curtailments, helped support the spruce, pine and fir (SPF) lumber market,” West Fraser said.
Its lumber shipments to China increased 80%, while production grew by 15% as sawmills operated at near capacity for most of the year.
Total export lumber shipments to the US were up 26% due to higher SPF prices and increased volumes.
Plywood production totalled 791,000 million ft² and MDF output was 192,000m³. LVL production was 1.9 billion ft².
The plywood and LVL businesses achieved higher prices and volumes, partially offset by lower shipments in the MDF division.
