CALGARY - The CEO of Interfor Corp. says profits from strong lumber markets mean the company is well-positioned to add to its stable of sawmills in Canada and the United States through acquisition.

Ian Fillinger says the Burnaby, B.C.-based company has a "lead-with-lumber" growth strategy but it will also consider buying mills that have attached businesses such as plywood, wood pellets or engineered wood products.

Interfor is reporting fourth-quarter net income of $149 million on sales of $662 million, up from a net loss of $41.7 million on sales of $457 million in the same three months of 2019. It beat analyst expectations for a profit of $127 million on sales of $660 million, according to financial data firm Refinitiv.

In a report, RBC analyst Paul Quinn said Interfor had lower-than-expected lumber sales but that was more than offset by higher-than-expected log and chip revenue.

The company reported producing 687 million board feet of lumber in the fourth quarter, up from 668 million in the year-earlier period and from 642 million in the third quarter.

Its average price per thousand board feet was $842, up from $566 in the fourth quarter of 2019 but down from $910 in the third quarter.