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Frontline ( (FRO) ) has provided an announcement.
Frontline plc reported a profit of $66.7 million for the fourth quarter of 2024, with revenues reaching $425.6 million. The company declared a cash dividend of $0.20 per share and engaged in several financial maneuvers, including refinancing agreements and asset sales, to strengthen its liquidity and reduce borrowing costs. Despite a soft quarter due to global seaborne export slowdowns and sanctions affecting demand, Frontline remains optimistic about 2025, focusing on maintaining a competitive cost structure and generating shareholder value.
More about Frontline
Frontline plc operates in the shipping industry, primarily focusing on the transportation of crude oil through its fleet of tankers, including VLCCs, Suezmax, and Aframax vessels. The company is known for its cost-efficient operations and modern fleet, positioning itself as a significant player in the global oil transportation market.
YTD Price Performance: 8.71%
Average Trading Volume: 3,495,731
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $3.56B
See more insights into FRO stock on TipRanks’ Stock Analysis page.