Melbourne-based dairy concern Bonlac Foods Ltd yesterday [Thursday] reported a net profit of A$59.9m (US$30.9m) for its fiscal first half ended 31 December, up from A$34.2m year on year. During the period, the company was buffeted by a 19% drop in sales to A$472.2m caused by the sale of Bonlac's Spring Valley fruit beverages brand and lower international sales volumes, but the profit increase has been attributed to lower tax (A$3.5m down from A$14m) and continued cost reductions.