INTERFOR CORP. SHARES DOWN AF­TER Q3 RE­SULTS MISS

National Post (Latest Edition) - - FINANCIAL POST -

Interfor Corp.’s share price fell 11 per cent Fri­day as the com­pany missed earn­ings ex­pec­ta­tions amid volatile lum­ber prices. “The dom­i­nat­ing fea­ture of the third quar­ter this year was the drop in lum­ber prices that be­gan in late May and early June and con­tin­ued un­abated through the third quar­ter,” said chief ex­ec­u­tive Dun­can Davies. He said volatil­ity this year has been un­prece­dented as lo­gis­ti­cal

con­straints and other fac­tors drove west­ern spruce com­pos­ite prices up US$145 early in the year only to plunge US$280 since to a low of US$296 per thou­sand board feet. “The cur­rent state of the lum­ber mar­ket makes lit­tle sense,” said Davies. “The drop we’ve ex­pe­ri­enced in the last few months is more of an over­re­ac­tion to an over­re­ac­tion that oc­curred ear­lier this year.”

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