Domtar president and CEO John Williams arrives at the paper company's 2014 annual meeting in this file photo.Paul Chiasson/The Canadian Press
Shares in Domtar Corp. soared nearly 10 per cent in early trading after it reported better-than-expected results for its latest quarter.
The shares were up $4.43 at $51.33 in early trading on the Toronto Stock Exchange.
Domtar, which keeps its books in U.S. dollars, says it earned US$20 million or 32 cents for every diluted share for the quarter ended Sept. 30, down from a profit of US$99-million or US$1.57 a diluted share a year ago.
Consolidated sales for the quarter totalled US$1.28-billion, down from US$1.37-billion.
Excluding a number of one-time items, Domtar says it earned US$55-million or 89 US cents a share in the quarter compared with a profit of US$92-million or US$1.46 a share in the same quarter a year earlier.
Analysts on average had expected a profit of 49 US cents a share, according to financial markets data firm Refinitiv.