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West Fraser Timber Q4 Profit Rises

Vancouver, Canada-based wood products company, West Fraser Timber Co. Ltd. (WFT.TO) on Thursday, reported a rise in fourth-quarter profit to C$22.9 million or C$0.51 per share, from C$6.0 million or C$0.14 per share in the year-ago quarter.

Excluding items, adjusted earnings from continuing operations for the quarter were C$1.25 per share, compared to an adjusted loss from continuing operations of C$0.35 million in the same period last year.

On average, 7 analysts polled by Thomson Reuters expected the company to earn C$1.15 per share for the quarter. Analysts' estimates typically excludes special items.

Meanwhile, sales for the latest quarter rose to C$773.4 million, from C$650.7 million in the comparable quarter last year.

In addition, the company said its Board has declared a dividend of $0.14 per common share on and Class B shares, payable on April 5, to shareholders of record on March 22, 2013.

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