Underlying earnings before interest, tax, depreciation and amortisation for the six months ended December 31 fell 28 per cent from a year earlier to $51.9 million.
The company has been hit by the costs of merging four of its businesses, closing under-performing manufacturing facilities and a drop in demand amid a commodities slump.
“It has been a trying first half. However, the company remains focused on its strategic intent of generating surplus cash to pay down its debt,” acting managing director Phil Arnall said.
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