West Fraser Timber reported second-quarter earnings of $109 million, up from $67 million in the first quarter.
But the company reported weaker results for its lumber operations, generating $103 million in Q2 operating earnings, compared with $122 million in Q1.
The company said its profits were affected by a dip in lumber prices this spring. After rising to record highs in the early months of 2013, prices fell sharply in April and May. The price of wood started to stabilize in early July as the U.S. housing market continues its gradual recovery.
West Fraser CEO Ted Seraphim said the company expects to see continued volatility in lumber prices, but to trend upward gradually.
Look out for a profile of Seraphim in an upcoming issue of Business in Vancouver.
