Algoma Steel reported profit for Q4

Algoma Steel reported profit for Q4

According to recent news in the market, Canadian steel producer Algoma Steel has posted a profit of C$10.1 million ($7.5 million) in the fourth quarter ending on December 31, 2003, against the loss of C$4.1 million ($3.07 million) recorded in the corresponding period of 2002. The company also reported sales of C$253.2 million ($189 million), with an increase of 7% against the same period of previous year. Moreover, this figure indicates an increase of 5% against the figure recorded in the third quarter of 2003. An official from Algoma Steel stated that the profit is achieved through the rise in shipments, low costs and improved product mix.