Algoma Central (TSE:ALC) has released an update.
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Algoma Central Corporation celebrated its strongest first quarter in five years, driven by robust performances in its Product Tankers and Ocean Self-Unloaders segments. Despite a slight 2% drop in overall revenue, the company significantly narrowed its net loss by 12% year-over-year and achieved near break-even EBITDA, marking the best first quarter EBITDA in its history. The company looks forward to continued growth, with new vessel introductions and operations commencing in the Great Lakes – St. Lawrence Seaway.
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