Algoma Steel Group (TSE:ASTL) has released an update.
Algoma Steel Group Inc. reported a fiscal fourth-quarter revenue of $620.6 million, down from $677.4 million in the previous year, alongside a net income of $28.0 million, signifying a recovery from a net loss of $20.4 million. For the full fiscal year, the company saw a slight increase in revenue to $2.795 billion but a decline in net income to $105.2 million. The company also completed a significant phase of its plate mill modernization project and strengthened liquidity with a $350 million financing arrangement.
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