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AUSTRALIA'S COAL & ALLIED INDUSTRIES DOWNGRADES H1 EARNINGS.
Publication: AsiaPulse News Publication Date: 26-JUN-03 |
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COPYRIGHT 2003 Asia Pulse Pty Ltd
BRISBANE, June 26 Asia Pulse - Due to a rise in local currency and ocean freight rates against a weak spot coal price, Coal & Allied Industries Ltd (ASX:CNA) today downgraded its half year earnings to break even.
Shares in Coal & Allied - three quarters owned by Rio Tinto Ltd - sank three per cent today to A$21.30, down 70 cents.
Coal & Allied, the NSW-focused miner, expects to break even in the first half of 2003 because of...
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