April 30, 2012 / 9:38 PM / 5 years ago

UPDATE 1-West Fraser posts loss on higher costs

April 30 (Reuters) - West Fraser Timber Co Ltd posted a first-quarter loss from continuing operations, hurt by higher costs and lower lumber and pulp prices.

January-March loss from continuing operations was C$16.7 million ($16.9 million), or 39 Canadian cents per share, compared with earnings of C$19.9 million, or 46 Canadian cents per share, a year ago.

Sales fell 1 percent to C$681 million.

There was continued weakness in offshore prices for low-grade spruce-pine-fir (SPF) lumber, the company said in a statement.

Cost of products sold increased about 15 percent to C$495.2 million.

Shares of the company, which has a market value of $1.77 billion, closed at C$43.43 on Monday on the Toronto Stock Exchange.

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