West Fraser Timber Co. Ltd. posts net profit of US$762 million in its second quarter

VANCOUVER — West Fraser Timber Co. Ltd. posted a net profit of US$762 million in its latest quarter as the acute transportation challenges facing the company in recent quarters showed signs of improvement.

The Vancouver-based company, which reports in U.S. dollars, said it earned US$7.59 per diluted share in the second quarter, down from US$12.32 per share or US$1.49 billion a year earlier.

Second quarter sales were US$2.90 billion, down from US$3.78 billion during the same period last year.

In a release, West Fraser’s chief executive Ray Ferris said its ability to ship products in a timely manner to meet the demands of customers is still “not where it needs to be and therefore transportation and logistics remain key focus areas for the company.”