UK-based Express Dairies has reported first-half underlying profit before tax, exceptional items and goodwill amortisation of £14m (US$22m), compared to £13.4m for the same period last year.

The group also reported that it had cut its net debt by £74.2m to £121.2m at 30 September by off-loading its non-core businesses.

As a result of this, the group has resumed dividend payments, with an interim payout of 0.4p per share, reported Business and Finance Daily News.