Magellan Aerospace Soars with Strong 2023 Financials

Magellan Aerospace (TSE:MAL) has released an update.

Magellan Aerospace Corporation has reported a significant improvement in their 2023 financial performance, with a notable 15.8% increase in quarterly revenues and a substantial 153.8% rise in annual gross profits compared to the previous year. The company, a key supplier in the aerospace sector, also saw a turnaround to a net income of $9,247 thousand after a previous net loss, alongside a more than doubling of Adjusted EBITDA indicating a strong operational performance.

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