-1.4 C
Fort St. John
Sunday, October 20, 2019
9924 101 ave Fort St. John, B.C.
Home News Canfor reports a net income for the quarter

Canfor reports a net income for the quarter

As it concludes a two week summertime economic downturn curtailment period at its Fort St. John sawmill, Canfor is out with its second quarter operating results.

The Vancouver-based company reports a net income of 10.5 million dollars, as opposed to a first quarter net loss of 58.8 million.

However, it says the improvement is masked, by several non-cash items…and it also points out, for the six month period ending June 30th, it still has a net loss of 48.3 million.

Still sighting the ongoing global and particuarly U.S recessions as the keys to its performance problems, it has again specifically fingered the lowest level of U.S. housing starts in decades.

The rising Canadian dollar is also a problem, for the entire forest industry. The dollar has moved higher by about 16 cents since May 9th, 2009.

get the latest news in your inbox


Local Events

Must Read

Green Leader Elizabeth May promises electoral reform, lowering voting age to...

VANCOUVER — Green Leader Elizabeth May says if her party is elected Monday, it will be the last federal government in Canada chosen by...