Canfor Pulp Products Inc. reported net income of $22.4 million for the 3Q 2016, compared to $2.2 million for the 2Q 2016 and $31.2 million for the 3Q 2015.
For the nine months ended September 30, 2016, the Company’s net income was $47.7 million, compared to $76.9 million for the nine months ended September 30, 2015.
The Company reported operating income of $31 million for the 3Q 2016, up $25.8 million from $5.2 million reported for the 2Q 2016. The improvement in the Company’s operating results primarily reflected significantly less scheduled maintenance downtime at the Company’s Northern Bleached Softwood Kraft (“NBSK”) pulp mills in the current quarter. Also contributing to the 3Q results were higher pulp shipment volumes, increased energy revenues as well as an improvement in pulp and paper unit sales realizations.
Don Kayne, CEO, said, “Canfor Pulp delivered solid financial results for the 3Q, following a return to more normal operating levels after the significant scheduled maintenance outages taken in the previous quarter.”
Canfor Pulp Products Inc. is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia employing approximately 1,300 people throughout the organization.
