NZ's Sanford half year profit down 26 pct

WELLINGTON, May 27 (Reuters) - New Zealand fishing company, Sanford Ltd (SAN.NZ), said on Wednesday first half net profit fell 26 percent, but underlying returns remained solid.

Net profit for the six months to March 31 was NZ$26 million ($16 million), compared with NZ$35.3 million the year before, which was boosted by one-off proceeds of an asset sale.

It declared an unchanged dividend of 9 cents a share.

Shares in Sanford last traded flat at NZ$5.80 in a broader market .NZ50 up 1.3 percent.

Underlying earning were up around 23 percent on better returns from its deep-water fishing operations and a fall in the New Zealand dollar NZD=. ($1=$1.60)