Spanish food company Campofrio has posted an 85% fall in first-half net profit to €0.8m (US$0.87m), mainly due to extraordinary income in the year-ago period.

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Revenues fell 12% to €606.6m in the first half to 30 June, hit by unfavourable exchange rates between the euro and the rouble and the sell off of subsidiaries.

Campofrio last year reported extraordinary income of €10m after changes in corporate tax laws, reported Reuters.

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