Cedenco in profit increase

Vegetable processing company Cedenco has posted a 65 per cent increase in first-half profit to $2.12 million.

However, the company will not pay a dividend - a policy it flagged in February - and is sticking with its prediction that full-year net profit will be lower than last year's $4.05 million. Operating revenue of $19.7 million was up on last year's $13 million.