Frontline (FRO) has released an update.
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Frontline plc reported a profitable second quarter in 2024 with earnings of $187.6 million and adjusted profits of $138.2 million, declaring a dividend of $0.62 per share. The company boasted revenues of $556.0 million and revealed strategic financial maneuvers including the sale of an older tanker and a series of refinancing deals expected to yield significant net cash proceeds. These moves, aimed at optimizing the fleet and enhancing shareholder returns, reflect the company’s response to a complex geopolitical landscape and the cyclical nature of the tanker market.
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