July 30, 2008 / 8:54 PM / 9 years ago

Canfor posts Q2 profit, but on accounting items

VANCOUVER, British Columbia, July 30 (Reuters) - Canfor Corp (CFP.TO) posted a quarterly net profit on Wednesday, but the positive result was due mainly to accounting changes and other items, and market conditions continued to be difficult.

The lumber producer said it earned C$64.2 million ($62.9 million), or 45 Canadian cents a share, in the quarter. That compared with a net loss of C$38.8 million, or 27 Canadian cents a share, in the same period a year earlier.

The quarter’s results included accounting items that boosted its net results by C$85 million, or 60 Canadian cents per share, the company said.

$1=$1.02 Canadian Reporting Allan Dowd, Editing Peter Galloway

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