VANCOUVER, BC - Ainsworth Lumber Co. Ltd. reported an a pre-tax profit of $17.1 million, more than 6 times its EBITDA of $2.7 million is recorded i Q2 2011.
Ainsworth benefited from both rising lumber prices, especially in Western Canada. It Q2 sales of $90.5 million 13.1% greater than the same time frame a year ago.
For the first six months, Ainsworth's total sales of $175.5 million were 15.5% greater than the first half of 2011; EBTIDA was $27.1 million for January-June of 2012 vs. $9.0 million for the first six months of 2011.
Ainsworth President and COO Jim Lake said, "Our EBITDA improvement reflects a stronger pricing environment and better operating results. In addition, for the first time in Ainsworth's history, our Grande Prairie, Alberta mill and our Barwick, Ontario mill have both operated accident-free for one year and counting."
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