Cold storage group, Norish, has announced a 7 per cent increase in pre-tax profit to £922,000 sterling (€1.4 million) in the six months to June 30th, 1999. This growth was entirely due to a £230,000 contribution from an acquisition. Excluding this, the figures show a drop in operating profit from £679,000 to £617,000. Earnings per share rose from 7.1p to 7.7p.

While the results are in sterling because its trading activities are in the UK, the unchanged interim dividend is declared in Irish currency at 1p.

Turnover from continuing operations fell from £4.1 million to £3.5 million. This, chairman Mr Brian Joyce said, was due mainly to the "ongoing impact of the decision taken in 1998 to rationalise certain uneconomic distribution activities".

A contribution from the acquisition of Belvedere Warehousing boosted turnover by £1.3 million. Belvedere was acquired in May for £7.6 million. Goodwill of £3.3 million arose. Mr Joyce described the results as satisfactory. Nevertheless, Norish said it was encouraged by the strong performance of Belvedere. It made a seven weeks contribution in the first half and is "expected to perform well throughout the second half".

Norish is seeking opportunities to add capacity, Mr Joyce said.