05:34 PM EST, 02/12/2025 (MT Newswires) -- Acadian Timber ( ACAZF ) on Wednesday reported its fourth-quarter profit more than halved.

Net income fell to $5.6 million, or $0.32 per share, from $11.6 million, or $0.68, in the prior year period.

Timber sales and services fell to $20.2 million, from $23.8 million. Sales volume, excluding biomass, were consistent with the same period of 2023. However, the weighted average selling price, excluding biomass, decreased 5%.

"We achieved steady results from our timber operations in the face of weakened end use markets and our financial results received a significant boost from our first significant sale of voluntary carbon credits during 2024," said chief executive Adam Sheparski. "We have started 2025 with the establishment of our own harvesting operation in Maine to address the persistent issue of contractor availability, and we look forward to a productive winter season."

The company's shares closed down $0.09 to $17.51 on the Toronto Stock Exchange.