Acadian Timber profits slip on higher sales

VANCOUVER — Acadian Timber reported net sales of $99.8 million in 2018, a year-over-year increase of $4.4 million as the company benefited from a 3% increase in log sales volumes due to strong demand and favourable operating conditions. Net income for the year totalled $26.3 million, or $1.57 per share, compared to $30.8 million, or $1.84 per share, in 2017. The decrease was primarily the result of an unrealized foreign exchange loss on the revaluation of U.S. dollar-denominated long-term debt compared to an unrealized gain in the prior year.