Prince George, B.C. – Canfor is reporting  a net income of $26 million for the first quarter of  2016.   That’s up from the 1.6  million  reported in the fourth quarter of last year,  but  down from the $29.3 million  recorded in the first quarter of 2015.

In its report to investors, Canfor says lumber sales (SPF) benefitted from the  lower Canadian dollar during the first quarter.  On the pulp side of  operations, Canfor says  income from sales was slightly lower  because benefits from the lower Canadian dollar were largely offset by reduced prices.

Canfor’s President and Chief Executive Officer, Don Kayne, says the  quarter was solid for both the lumber and pulp businesses “Our Western Canadian lumber business operated at record-high productivity levels for the quarter, while our growing US South business continues to deliver strong results, despite some weather challenges.”

Canfor  expects the US housing market to  ” continue its gradual recovery through 2016″.  Canfor also expects  solid demand from its offshore markets.

While  the  pulp list price  for NBSK  will increase to $980 US  per tonne next month, Canfor  expects  that slight increase ($30 US) may be offset by  a strengthening Canadian dollar.