Food distribution company Norish posted pre tax profits of £200,000 sterling for the six months ended June 30th compared with a pre-tax loss of £800,000 last year.
Norish, which recently became a takeover target, said turnover remained unchanged at £6 million. The profit per share is 1.2p compared with a loss of 7.0p for the same period last year.
Discussions regarding the takeover approach are still at a preliminary stage, the company said and as a consequence the board has decided that an interim dividend will not be paid.
Norish said its cold storage division performed well in a market still suffering from overcapacity and pressure on rates as well as increasing electricity costs.
The company said trading in both commodity and ambient businesses continues to be difficult, particularly due to the decline of its cocoa storage business.