Algoma’s net earnings rose to CAD 22.1 million (USD 16.7 million) in Q2 2019 from CAD 14.4 million (USD 10.9 million) seen in the corresponding period a year earlier.
As explained, profit was higher as a result of a rise in operating earnings and a foreign currency gain versus a loss reported last year.
Consolidated revenue for the 2019 second quarter was CAD 159.2 million, an increase of 14% compared to CAD 139.4 million reported for the same period in 2018.
