Affco profit up 4pc despite revenue fall

Meat company Affco Holdings has reported a 4 per cent increase in interim profit even though revenue was reduced.

The net profit after tax of $15.9 million in the six months to March 31 is up from $15.3 million in the same period last year.

The net profit before tax of $21.88 million is up from $21.82 million last year.

The company is not paying an interim dividend.

Operating revenue of $547 million was $33 million lower than last year.

- NZPA