Subscribe to RSS feedProfit surge for Coal & Allied despite lower volumes
by
Sineva Toevai
—
last modified
Jul 30, 2009 12:43 PM
The port of Newcastle’s largest coal exporter, Coal & Allied, has posted a 66% jump in first half profits despite production cutbacks.
Net profit in the six months ending June 30 rose to $324m from $195m last year while a weaker Australian dollar helped lift revenue by 31% to $1.25bn, Coal & Allied, a subsidiary of Rio Tinto, said in a statement.
"The record coal...
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