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.

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