July 19, 2012 / 9:41 PM / 6 years ago

UPDATE 1-West Fraser profit rises on high lumber prices

July 19 (Reuters) - West Fraser Timber Co Ltd reported a second-quarter profit, on high lumber prices and strong demand from Asia.

April-June earnings from continuing operations was C$26.9 million ($26.71 million), or 63 Canadian cents per share, compared with C$11.4 million, or a loss of 7 Canadian cents per share, a year earlier.

Sales rose 8 percent to C$774.4 million.

The company, which has operations in western Canada and the southern United States, said the average northern bleached softwood kraft (NBSK) benchmark price for the quarter increased to $900 per tonne from $870 in the previous quarter.

NBSK is the paper industry’s benchmark grade of pulp, and is produced mainly in Canada and the Nordic countries.

Shares of the company closed at C$50.93 on Thursday on the Toronto Stock Exchange.

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