Pope Resources Q1 Profit Rises

(RTTNews) - Pope Resources (POPE) reported that its first-quarter net income attributable to unitholders increased to $5.7 million or $1.31 per ownership unit, from $3.4 million, or $0.77 per ownership unit last year.

Consolidated revenue grew to $25.0 million from $17.3 million last year.

The company expects total 2018 harvest volume to be approximately 66 MMBF for the Partnership, and approximately 76 MMBF for the Funds, including timber deed sales. The 66 MMBF for the Partnership includes 14 MMBF of volume from timber located on real estate properties and recent small-tract acquisitions that is not factored into long-term, sustainable harvest plan.

Pope Resources announced a quarterly distribution of $0.70 per unit, effective for unitholders of record on June 1, 2018 and payable on June 15, 2018.