Strengthened China market lifts Pope Resources’ 4Q, earnings, revenues

By Rachel Pritchett

POULSBO β€” Pope Resources reported increased income for the fourth quarter of 2011, thanks to bigger demand from China for logs and lumber.

The Poulsbo-based company reported net income of $2.3 million on revenue of $17.8 million, compared with income of $1.7 million on revenue of $8.4 million for the same period in 2010.

β€œThe big story for 2011 was strong demand from China for logs and lumber,” said David Nunes, president and chief executive officer.

Nunes pointed to a record harvest in 2011 of 90 million board feet.

Also, the company enjoyed a 17 percent increase in log prices, according to a statement.

Pope Resources and partners own or manage 178,000 of timberland and development property in Washington and Oregon.

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