Rio's first half profit down 14%

THE world’s third largest miner Rio Tinto has posted a 14% fall in first half net profit from the corresponding period in 2006, despite strengthening demand for its products during the period.

Rio's first half profit down 14% Rio's first half profit down 14% Rio's first half profit down 14% Rio's first half profit down 14% Rio's first half profit down 14%

The group's net earnings fell from $US3.8 billion to $3.25 billion for the first half this year with industry wide cost pressures reducing earnings by $503 million.

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