Net profit falls to $11.5, or 5.8 cents per share, in the six months ended December 31 from $24.1m (12.3 cents) a year earlier.

UPDATED: The board has increased the director's fee pool by converting it to Australian dollars.

The company expects to make savings from a restucturing programme across Australia and New Zealand.

New Zealand unit reports a profit after cutting costs and reducing debt.

The specialty chemicals maker will use the funds to refinance a facility used to acquire Viverso last year.

Nuplex Industries says full-year earnings willbe at the bottom end of its range, although second-half trading has met expectations and margins have improved.