AAPL 192.4902 0.7591% MSFT 429.38 0.9498% GOOG 179.04 0.325% GOOGL 177.45 0.2996% AMZN 182.02 -0.8282% NVDA 947.4001 -0.0422% META 464.53 -0.9193% TSLA 186.0554 6.3478% TSM 153.42 -0.0847% LLY 803.85 2.6392% V 276.17 -0.8509% AVGO 1399.41 -1.0339% JPM 198.68 1.585% UNH 522.2967 0.9796% NVO 134.5401 1.2265% WMT 64.9 1.1218% LVMUY 166.815 -1.2052% XOM 118.03 -0.5393% LVMHF 846.034 0.1224% MA 457.885 -0.3862%

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Despite revenue decline, Ardmore (NYSE: ASC) reports 15% jump in FY23 net income as margins improve

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Ardmore Shipping Corporation (NYSE: ASC) offers marine transportation services for petroleum products and chemicals worldwide to various clients, including oil majors, national oil companies, traders, and chemical firms, utilizing its fleet of medium-sized product and chemical tankers.

Business update

In February 2024, Ardmore announced strategic fleet adjustments. It included the acquisition of a 2017 Japanese-built MR product tanker and selling the 2010-built Ardmore Seafarer for USD 42.0 million and USD 27.1 million, respectively.  

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