Pope Resources reported positive net income amid 56.7% growth of revenues in 1Q2017 y-o-y. According to the announcement, the company’s sales accounted for USD 17.3 million, generating net income attributable to its unitholders of USD 3.4 million in the period.
Tom Ringo, Pope Resources’ President and CEO, commented:
“Our overall average log price realizations improved slightly compared to the previous quarter, with lower-valued species mix masking improvements in the markets for Douglas-fir and whitewood sawlogs. We trace this improvement in log markets to reductions in log supply caused by unusual amounts of rain and snow in our Pacific Northwest operating region, combined with incremental demand due to market expectations of pending duties on Canadian lumber imports.”
In 4Q2016 Pope Resources doubled its revenues.
About Pope Resources:
The company is a publicly traded limited partnership, together with its subsidiaries Olympic Resource Management and Olympic Property Group it owns or manage 193,000 acres of timberland and development property in Washington, Oregon, and California. It also manages, co-invests in, and consolidates three private equity timber funds, for which it earns management fees.