VANCOUVER - Canfor Pulp Income Fund (TSX:CFX.UN) said Thursday that its operating company earned a second-quarter profit of $18.2 million, down from $35.9 million a year ago.
The fund, which holds a 49.8 per cent stake in the Canfor Pulp Limited Partnership, said the partnership took in $215.9 million in revenue for the three months ended June 30, down from $239.4 million in the same period in 2007.
The fund said its Prince George pulp mill operate at a slightly reduced rate due to operation of a temporary chip screening system.
Construction of a permanent system is underway and expected to be operational in the fourth quarter.
The fund said it earned $7 million or 20 cents per unit for the three months ended June 30, compared with loss of $21.4 million or 60 cents per unit a year ago.
Equity income from the partnership was $9 million, down from $17.9 million.
Units in the trust, which reported its results after the close of markets, were down 28 cents at $9.72 on the Toronto Stock Exchange on Thursday.
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