Tembec turns around Q4

MONTREAL — Tembec posted a $12 million dollar Q4 profit, after taking a loss of $32 million the same time last year. The forestry firm reported earning $0.12 per share, while revenues rose by 4.3% to $389 million. The company attributed the results to a slight dip in the value of the loonie along with a lack of any major maintenance costs. Sales for the fiscal year came in at $1.5 billion, a $100 million gain over the previous year, and profits of $20 million compared to a net loss of $150 million for the year in fiscal 2015.