CALGARY, AB, May 6, 2025 /CNW/ - AKITA Drilling Ltd. (TSX: AKT.A)
AKITA Drilling Ltd. ("AKITA" or the "Company") announces net income of $8.6 million for the three months ended March 31, 2025, compared to $2.6 million for the same period in 2024. The momentum that began in the fourth quarter of 2024 carried through into the first quarter of 2025, driving increased activity in both the Canadian and US divisions which significantly impacted overall results. Adjusted funds flow from operations was $17.0 million for the first quarter of 2025 compared to $11.2 million in the first quarter of 2024. Despite a higher working capital build in the first quarter of 2025, net cash from operations increased to $9,009,000 for the three months ended March 31, 2025, compared to $6,948,000 in the same period of 2024.
Read more at newswire.ca