Toronto, Canada, March 08, 2009 --(PR.com
)-- Consolidated Forestry Industries Inc CEO Ken Curtis remained upbeat despite his company posting a net profit of just C$16,855,150 for the financial year ending December 31, 2008. The company posted a profit of C$248,036,272 for the previous year.
Curtis expressed confidence that the worst was behind CFI and profits would improve in the second half of 2009.
“The US stimulus package focuses heavily on construction, and we are well placed to take advantage of a substantial increase in demand for timber in the second half of 2009,” explained Curtis. “I am confident we have weathered the downturn and are poised to return to normal levels of profitability later this year.”