Alaska Railroad Corp. has strong financial year

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Tuesday, April 7th, 2020 7:36am

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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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