April 25 (Reuters) - Timber conglomerate Weyerhaeuser Co’s first-quarter profit rose 27 percent as its acquisition of Longview Timber began paying off.
Weyerhaeuser bought Longview Timber Holdings from Brookfield Asset Management Inc last June for $2.65 billion, including assumption of debt.
Net profit rose to $183 million, or 31 cents per share, in the quarter ended March 31 from $144 million, or 26 cents per share, a year earlier.
On an adjusted basis, the company earned 26 cents per share.
Revenue rose 1.7 percent to $1.98 billion. (Reporting By Shubhankar Chakravorty and Arnab Sen in Bangalore; Editing by Gopakumar Warrier)