31/08/2012 (Radio Australia) - New Britain Palm Oil has seen its profit for the first half of 2012, drop by well over half.

Late last week, the company, the biggest palm oil producer in Papua New Guinea and Solomon Islands, announced a pre-tax profit 63.6 million US dollars, well down on the 158.7 it achieved in the first half of 2011.

Chief Operating Officer, David Mather, says a number of negatives came together to create a very disappointing result.

Mr Mather told Jemima Garrett the problems began with rain dragging down the collection of FFB or Fresh Fruit Bunches.