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Weyerhaeuser quarterly profit rises 43 pct
August 1, 2014 / 7:22 AM / 3 years ago

Weyerhaeuser quarterly profit rises 43 pct

Aug 1 (Reuters) - Timber conglomerate Weyerhaeuser Co’s second-quarter profit rose 43 percent, helped by higher sales in its wood products and cellulose fiber businesses.

Net profit rose to $280 million, or 47 cents per share, in the quarter ended June 30 from $196 million, or 35 cents per share, a year earlier.

Revenue from continuing operations rose 5 percent to $2 billion.

Excluding special items, the company earned a profit of 40 cents per share.

Weyerhaeuser said its third-quarter results will include a net gain of about $1 billion on the divestiture of its homebuilding business, Weyerhaeuser Real Estate Company. (Reporting by Anannya Pramanick and Arnab Sen in Bangalore; Editing by Gopakumar Warrier)

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