Canfor’s softwood lumber sales reduced by 10.9%
Higher selling prices on the softwood lumber markets led to increases in the sales revenue and key performance figures of “Lumber” division of Canfor in the first quarter. In spite of the 10.9% lower volume of sales of softwood lumber totalling 1.271bn bdft, the division succeeded in boosting its sales revenue by 6% to CAD817.1m. SPF prices that were 23% to 28% higher on average for the quarter than those in the same period last year and roughly 18% higher selling prices for SYP assortments enabled the company to compensate for increases in harvesting costs caused by the weather in particular as well as in log purchasing.
The division’s operating result ultimately rose sharply from CAD33.4m to CAD83.7m. The output of lumber only fell slightly by 0.3% in the pe-riod under review to 1.298bn bdft, 936.4m bdft of which was accounted for by SPF (-3.1%) and 361.8m bdft by SYP (+7.7%). At the beginning of the reporting period, Canfor had raised its former 55% stake in the SYP sawmills of Balfour Lumber and Beadles Lumber to 100%. Conversely, Canfor parted with its former 50% share in the I-joist producer Anthony-Eacom at the end of the first quarter, selling to the Eacom Timber.