Wace profits tumble

BRITISH packaging and printing services group, Wace, suffered a 60 per cent fall in its half year profits because of a combination…

BRITISH packaging and printing services group, Wace, suffered a 60 per cent fall in its half year profits because of a combination of exceptional costs and weaker than expected British sales, the company said yesterday. Wace made a pre-tax profit of £4.2 million in the six months to June 30th, compared with £10.02 million in the corresponding period last year. The company said it had made a charge of £3.2 million for restructuring following the acquisition of Ferry Pickering.