Sanford Ltd. reported unaudited consolidated earnings results for the first six months ended March 31, 2012. For the period, the company reported revenue of NZD 230,303,000 against NZD 228,030,000 a year ago. Operating profit was NZD 19,614,000 against NZD 17,411,000 a year ago. Profit before income tax was NZD 18,799,000 against NZD 18,220,000 a year ago. Profit for the period was NZD 13,335,000 against NZD 13,117,000 a year ago. Profit attributable to equity holders of the group was NZD 13,307,000 or 14.2 cents basic and diluted per share against NZD 13,095,000 or 14.0 cents basic and diluted earnings per share a year ago. Net cash flows used in operating activities was NZD 1,038,000 against net cash flows generated in operating activities was NZD 6,557,000 a year ago. Purchase of property, plant and equipment was NZD 1,148,000 against NZD 12,713,000 a year ago. EBITDA was 29,899,000 against NZD 25,998,000 a year ago. On May 30, 2012 the directors proposed an interim dividend of 9 cents per share (fully imputed) to be paid on June 20, 2012. This dividend has not been provided for in the accounts at March 31, 2012. The company expects profitability in the second six months of this year will be improved over the same period last year providing international market conditions remain the same as they have been over the first six months.