By: The Working Forest Staff
Canfor Pulp Products Inc. second quarter 2018 net income was $63 million, or $0.97 per share. Record-high 2Q 2018 sales amounted to $396 million, reflecting strong shipments and sales realizations, as the company says in the press release.
CPPI reported operating income of $85.4 million for the 2Q 2018, an increase of $0.3 million from the $85.1 million reported for the 1Q 2018 reflecting favourable Northern Bleached Softwood Kraft (“NBSK”) pulp unit sales realizations, increased shipments following major weather-related transportation disruptions experienced in the 1Q 2018 and to a lesser extent, improved NBSK pulp mill productivity.
Commenting on the Company’s 2Q 2018 results, CPPI’s CEO, Don Kayne said, “We continue to be encouraged by the strength of the global pulp markets. Our solid operating performance in the 2Q enabled us to capitalize on these favourable market fundamentals and set new record-high operating earnings.”
CPPI is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia, Canada, employing approximately 1,300 people throughout the organization.