The falling Australian dollar has impacted Schaffer Corporation's bottom line with the industrial company today reporting a 42 per cent drop in its interim net profit.

For the six months to the end of December 2008, Schaffer recorded a net profit of $3.4 million, down from the previous corresponding period's $5.8 million.

The company said the interim profit result includes a $5 million foreign exchange loss, compared to the previous year's $600,000 gain.

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