Algoma Central ( (TSE:ALC) ) has shared an update.
Algoma Central Corporation reported strong financial results for fiscal 2024, with net earnings increasing to $91,638 from $82,870 in 2023, despite a slight decline in overall revenue. The company experienced growth in its Ocean Self-Unloaders and Product Tankers segments, driven by increased fleet utilization and expanded capacity. Looking ahead to 2025, Algoma plans to introduce nine new vessels and anticipates stability and growth, although it remains cautious of potential market disruptions.
More about Algoma Central
Algoma Central Corporation, based in St. Catharines, Ontario, operates in the shipping industry, providing marine transportation services. The company focuses on domestic dry-bulk shipping, product tankers, and international ocean self-unloading services, with a market emphasis on iron ore, grain, and cement shipments.
YTD Price Performance: 1.78%
Average Trading Volume: 7,385
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: C$602.8M
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