Algoma Central (TSE:ALC) has released an update.
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Algoma Central Corporation experienced a revenue increase of 6% in fiscal 2023, reaching $721,220, although net earnings dropped by 31% to $82,870, partly due to the previous year’s one-time gains. This performance reflects the company’s robust and diversified fleet, despite facing market rate pressures and significant dry-docking costs. Looking ahead, Algoma remains poised for the future with new vessel deliveries and preparations for the 2024 navigation season.
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