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FY2020 Annual Report: Algoma Central Net Profit up 90% Corporate Wire Date: 14 April 2021 23:36 EDT Release Date: April 01, 2021

Apr 15, 2021 - News Bites Canadian Markets

CANADIAN RESULTS

Algoma Central (TSX:ALC) reported net profit for the year-ended 31 December 2020 [FY2020] of CAD45.9m ($35.8m), up 89.8% from CAD24.2m ($18.5m) in the previous year [FY2019]. Earnings per share (EPS) were up 92.1% from 63.0c (US48.28c) in FY2019 to CAD1.21 (US94.57c) in FY2020.

Major changes compared with previous year (FY2020 vs FY2019):

Favourable Changes:- Net profit up 89.8% from CAD24.2m ($18.5m) to CAD45.9m ($35.8m)- Current ratio up 43.8% from 0.7 to 1.1...