Soul Patts full-year profit falls

Group says coal assets well positioned to weather soft market conditions.

Washington H Soul Pattinson and Company (SOL) says its coal assets are well positioned to weather soft market conditions after posting a fall in full-year profit.

The group's profit after tax attributable to members fell by 26.3% to $105.4 million in fiscal 2013, compared with $143 million in the prior year.

Revenue was down by 13.3% to $791.3 million, compared with $912.4 million in the previous corresponding period.

The group will pay a final dividend of 28 cents per share, fully franked.