International Forest Q1 profit soars to $27.5M on deferred income tax recovery
VANCOUVER – International Forest Products Ltd. (TSX:IFP.A) says a big income tax recovery help to sharply boost net income in the first quarter. The Vancouver-based lumber producer says net earnings were $27.5 million or 43 cents per share in the three months ended march 31. That was up from $15.2 million or 27 cents in the prior-year period, courtesy of a $16.6 million deferred income tax recovery. Sales revenue rose to $294.8 million from $242.5 million.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community? Create a free account to comment on stories, ask questions, and join meaningful discussions on our new site.
Leave a Reply
You must be logged in to post a comment.