By Rachel Pritchett
POULSBO — 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.
“The 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.
