Sanford reports 79pc profit fall

Fishing company Sanford has reported a 79.4 per cent fall in interim profit but has maintained its interim dividend at 9c a share.

The net profit after tax of $5.3 million in the six months to March 31 is down from $26.0 million last year.

Earnings before interest, tax, depreciation and amortisation decreased to $10.3 million from $43.6 million last year.

Foreign exchange gains totalled $7 million for this period compared with $6.5 million last year.

- NZPA