Huge profit slump hits PIC

10 February 1999

Huge profit slump hits PIC

By FWi staff

PIC International, the pig breeding company left after the break-up of Dalgety, suffered a massive slump in profits during the second half of last year.

The company, which has announced its half-year results, made pre-tax profits of £2.1 million for July-December 1998, compared with £34.8m for the same period in 1997.

Sales fell from almost £2bn to just 82.1m; and operating profit dropped from £14.3m to £1.8m.

Earnings per share were -0.1p and PIC passed its dividend for the six-month period.

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