Italian dairy group Parmalat has posted a leap in first-half profits, although the jump is largely due to gains from legal settlements this year.

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The company booked operating profit of EUR283.6m (US$393m) for the first six months of the year, up from EUR87m a year earlier. By comparison, revenue inched up 2.8% to EUR1.8bn.


Parmalat has struck numerous settlements with financial institutions over its 2003 collapse under massive debt.

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