Alaska Railroad Corp. has strong financial year

    ANCHORAGE, Alaska (AP) — Alaska Railroad Corp. officials say the state-owned company made a $21.6 million profit in 2019 on improved freight business.

    The Alaska Journal of Commerce reported the rail company’s net income was a 17% increase over its $18 million in 2018.

    The result was the company’s third consecutive year of annual profits.

    An annual report published April 1 said the $21.6 million net return was generated from $203.9 million in revenue, amounting to 7.5% revenue growth over 2018.

    The railroad’s operating revenue increased 8% to nearly $177.6 million and led to an operating income of $4.7 million last year.

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