July 26, 2011 / 3:33 PM / 6 years ago

UPDATE 1-Tembec Q3 profit falls; sees lumber price recovery

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July 26 (Reuters) - Tembec Inc’s quarterly profit fell 70 percent as pricing pressures at the Canadian company’s core forest products segment weighed down results, but it expects lumber prices to recover.

April-June profit fell to C$19 million ($20.1 million), or 19 Canadian cents a share, from C$59 million, or 59 Canadian cents a share, a year ago.

Quebec-based Tembec, which supplies the North American housing space with Spruce-Pine-Fir lumber, posted an 18 percent drop in revenue at C$448 million.

Shares of the company were slightly up at C$4.10 on Tuesday on the Toronto Stock Exchange. ($1 = 0.944 Canadian Dollars) (Reporting by Gowri Jayakumar in Bangalore)

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