Italian food group Parmalat has reported lower first-half pre-tax profit due to foreign exchange effects and a €44m (US$49.1m) charge related to restructuring and capital losses. Parmalat posted first-half pre-tax profit of €120m, compared to €191m a year earlier. Currency effects pushed first-half sales down to €3.4bn from €3.9bn a year earlier despite an increase in sales volumes.