West Fraser shares rally after second-quarter results

West Fraser Timber Co’s shares rose by 2% as it reported second-quarter earnings of C$27m and earnings per share of C$0.63 on sales of C$774m.


For the first six months of 2012, earnings were C$10m and earnings per share were $0.24, on sales of C$1.5bn.

The company said it expected its lumber and panels businesses to improve, as long as new home construction in the US continued to recover.

“Despite some encouraging signs, the current recovery still appears to be fragile and could be set back by adverse global economic events,” the company said.

Chairman and CEO Hank Ketcham said the second quarter results were encouraging and that the company was “well positioned to take advantage of the anticipated recovery”.