Greek dairy company Delta Holdings revealed yesterday (28 August) that its net profits for the first half of fiscal 2006 rose by 17.7% to EUR25.3m (US$32.4m) on the back of increased income and operating profits.

Excluding ice cream, group sales climbed 2.1% to EUR288.5m.

Profits from the sale of Delta's ice cream business, Delta Ice Creams, to Nestlé Hellas reduced total debt from EUR352.2m to EUR95.8m and boosted equity by EUR57m, the company said.

Delta is planning a merger with snack company Chipita and intends to absorb its Goody's and Uncle Stathis subsidies. When this process is completed, it will change its corporate name to Vivartia.