UK food firm Northern Foods has posted a 16% drop in first-half profits but said it aimed to post second-half profits at last year's level. The company, which makes own-label ready meals and desserts for UK retailers such as Marks & Spencer, reported underlying pre-tax profit of £32.5m (US$54.2m) for the six months to 30 September, compared to £38.8m a year earlier, reported Reuters.