Diversified agribusiness group Scales Corporation reported net profit of $27.8 million for the six months to June 30, significantly down on the $121.8m for the same period a year ago.
The company described it as a "solid result" during the midst of a global pandemic.
Chairman Tim Goodacre said: "Trading throughout the Covid-19 lockdown was not without its challenges. However, the continuity of the business and the ensuing results were made possible by strong leadership together with the courage and hard work of team members."
The company said it anticipated full year underlying net profit would be at the bottom end of previously advised guidance range of between $30m and $36m, "taking into account the impact that Covid-19 has had, and continues to have, on each of our businesses".
"However, our balance sheet remains strong and we continue to seek appropriate investment opportunities."