Earnings

Coal & Allied reported a profit after tax of $A109.8 million in 2007. This compared with a result of $A207.6 million in 2006. Higher demurrage costs, port constraints, weather impacts and the rising AUD dollar meant Coal & Allied had to reduce production at its three operations, impacting on its final profit after tax.

However, Coal & Allied is well placed to take advantage of the strong market conditions when capacity becomes available in the Hunter Valley Coal Chain. We welcome the appointment of the former Premier of New South Wales, as facilitator in finding a resolution to the Hunter Valley Coal Chain constraint issues.

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