Heavy rain hits Straits

STRAITS Asia Resources has recorded a 39% drop in its net profit for the June quarter as a result of abnormally high rainfall and low coal sales, which has downgraded sales targets for the 2007 calendar year.

Heavy rain hits Straits Heavy rain hits Straits Heavy rain hits Straits Heavy rain hits Straits Heavy rain hits Straits

The company – which owns the Sebuku coal mine in Indonesia – posted a net profit of $US7.11 million, down from last year’s result of $11.66 million in its June quarter financial report.

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