25 Feb 2010

Half-year profit down at Pacific Brands

5:16 pm on 25 February 2010

Pacific Brands, which owns Fairydown and Bonds, says its after-tax profit fell by nearly 40% to $35.5 million in the six months to December.

Total sales fell 8% to $960 million over the period, compared with last year.

However, the company says it is on track to make $50 million in savings this year, thanks partly to the closure of a factory in Christchurch last year.