Coal & Allied's 1st half sales down; annual production cut by 4 million mt

摘要

Rio Tinto's Coal & Allied saw sales fall in the first half of 2003 and expects production cuts to mount to 4 million mt this year in response to market conditions. The company announced July 22 that net profit after tax was 7.2 million dollars for the first half of 2003, compared to 104.7 million dollars in the same period last year. The company said it would not pay a dividend on ordinary shares. Managing Director Gary Goldberg said the results reflected the tough market conditions faced by all Australian export coal producers in 2003.