Plum Creek Timber's Latest Results Are A "Good Sign" For Timber Investors, FRA
FRA has welcomed the news that Plum Creek Timber Co has seen its profits soar off the back of growing demand for lumber in the US and abroad.
Bainbridge Island (I-Newswire) November 22, 2012 - Forestry Research Associates (FRA) has welcomed the news that Plum Creek Timber Co has seen its profits soar off the back of growing demand for lumber in the US and abroad.
Third quarter earnings increased by a healthy 18 per cent, while earnings per share are thought to have totaled between 25 and 30 cents – rising as high as 36 cents, according to Thomson Reuters analysts.
FRA’s analysis partner, Peter Collins, said, “The news that Plumb Creek are doing well is good news for forestry firms globally, in my opinion. Plum Creek are the largest forestry owners in the US and if they are enjoying increased demand, so are others.” The business owns some 6.6 million acres of forested land in the US.
In total, the quarter to September 2012 resulted in profits of $59 million, up from $50 million during the same quarter a year before. Revenues also grew, by 21 per cent to $354 million.
Plum Creek’s CEO, Rick Holley, explained, "Demand for wood products continues to improve and that has translated into improved financial performance for our timber and manufacturing businesses."
The growth in demand is coming partly as a result of the new health within the housing sector and partly from continued demand in developing economies, such as China and India.
“Investing in timber is a great option for anyone looking for an ethical alternative at the moment,” claimed Mr Collins. FRA, a research and analysis consultancy, advocates investment in sustainable forestry projects such as those run by firms like Greenwood Management. “We believe that it is a great time to be investing in timber and timberland. The demand for timber to build homes in the US, Brazil, China and India is growing all the time and it looks like the supply will barely be able to keep up with demand,” added Mr Collins.
About Forestry Research Associates
Forestry Research Associates is a research and advisory consultancy that focuses on forestry managem More..ent, sustainability issues and forestry investment around the globe.
Questions that are often addressed to us include: How easily can new species be added? How can management costs be reduced? How can value be added value to global timber products? What can be done to increase the structural variability of forests? Can you provide an analysis of our timberland portfolio? We also seek to provide resources on biomass initiatives and wood energy programs and provide the latest news on timber prices, forestry funds and forest economics.Less..
Forestry Research Associates
620 Vineyard Lane
Phone : (206) 316 8394
Published On:November 22, 2012
If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.