WH Group, the China-based meat processor and owner of Smithfield Foods, saw revenue slide and reported mixed profits in the first half of the year amid lower sales from packaged meats and falling earnings from fresh pork.

The company said its reported net profit inched up 0.3% to US$367m for the six months to the end of June. However, underlying net profit, which excludes the impact of costs linked to the Smithfield deal on earnings in the first half of 2014, were down 11%.

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Operating profit was down 10.6% at $729m. EBITDA dropped 9% to $968m.

Turnover decreased 3.2% to $10.21bn.

All of the figures are before biological fair value adjustments, WH Group said.

Turnover from WH Group's packaged meats business dropped 5% to $5.31bn. WH Group said its sales from packaged meats in China fell 11% and dipped 0.7% in the US. However, the division saw operating profit jump 26.8% thanks to improved earnings from its US arm.

WH Group's fresh pork arm made an operating loss of $9m with the division seeing earnings fall in both China and the US.

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