07:27 AM EDT, 07/26/2024 (MT Newswires) -- Canfor ( CFPZF ) , a lumber and wood producer, overnight Thursday reported a wider adjusted second-quarter loss on impairment and write-down charges and lack of "economically viable" fibre.

The adjusted loss widened to $168.7 million, or $1.42 per share, from $44.3 million, or $0.36 last year. Inventory write-down, an asset write-down and an impairment charge totalling $83 million contributed to the loss.

Sales fell to $1.38 billion, from $1.45 billion, in the year-ago quarter.

"This quarter posed considerable challenges for our lumber business," said

President and Chief Executive Don Kayne. "While our European operations delivered solid earnings, North America continued to face a persistently weak pricing environment."

Operating conditions in British Columbia remain "extremely challenging" because of the difficulty in obtaining economically viable fibre, the company said.

Canfor Pulp Products ( CFPUF ) reported a second-quarter net loss of $6.3 million, or $0.10 per share, an improvement from the net loss of $28.4 million, or $0.44 per share, last year. Quarterly sales for the paper and paper products manufacturer also dipped over the same period, to $220 million, from $249.5 million.