Quarterly net income for Canfor Pulp Income Fund (TSX:CFX.UN) fell 73% in its fourth quarter ending December 31, 2007, due to the higher Canadian dollar and rising manufacturing costs.
Quarterly profit fell to $12.1 million on sales of $215.1 million compared with a net profit of $44.8 million on sales of $225.2 million in the same period a year ago.
In addition to the impact from the stronger Canadian dollar, higher fibre costs offset any increases in pulp prices during the quarter.
For fiscal 2007, however, the income fund reported higher sales and profit. Annual sales rose 10% to $921.6 million from $830.4 million in 2006. Net profit rose 5.5% to $129.8 million from $123 million a year earlier.
Canfor Pulp's unit price range during the past week: between $10 and $10.15; 52-week high: $16.45; 52-week low: $8.29.