Canfor Pulp Products Inc. (“CPPI”) reported net income of $17.7 million for the 2Q 2015, compared to $28 million for the 1Q 2015 and $18.8 million for the 2Q 2014.
The Company reported operating income of $20.9 million for the 2Q 2015, a decrease of $20.5 million from $41.4 million reported for the 1Q 2015. The decrease largely reflected the impact of maintenance outages and lower unit sales realizations for both pulp and paper segments.
Commenting on the second quarter’s results, CPPI’s CEO, Don Kayne, said, “Results in the quarter reflected fairly stable NBSK market conditions, the impact of the scheduled maintenance outages at several of Canfor Pulp’s facilities as well as higher shipments to China, reflecting the impact of the Chinese Lunar New Year in the 1Q.”
CPPI is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia.