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Mar 15, 2023

Conifex Revenue Falls

Conifex Timber Inc. had revenue of $26.7 million in the fourth quarter of 2022, a decline of 55.4 per cent compared to $59.9 million from the year-ago period. Net loss was $200,000 versus a net loss of $2.5 million year over year. The loss was due to lower lumber production and shipment volumes. Revenue for lumber was $23.7 million, a drop of 51.8 per cent compared to $49.2 million in the prior-year period. The decrease is the result of the higher proportion of premium grade lumber and wholesale inventory volumes shipped and sold in 2021 compared to 2022. The company produced 31.6 million board feet of lumber in the fourth quarter, a decrease of 29 per cent compared to the prior-year period.

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