Reed|NNP International|NNP PLC|NNP said|VBD that|IN net|JJ income|NN for|IN the|DT six|CD months|NNS ended|VBN Oct|NNP .|. 1|CD slipped|VBD 5|CD %|NN to|TO #|# 89.7|CD million|CD (|( $141.9|NN million|CD )|) ,|, or|CC 16|CD pence|NN a|DT share|NN ,|, from|IN #|# 94.8|CD million|CD (|( $149.9|NN million|CD )|) ,|, or|CC 17.3|CD pence|NN a|DT share|NN .|. 

The|DT British|JJ paper|NN ,|, packaging|NN and|CC publishing|NN concern|NN ,|, said|VBD profit|NN from|IN continuing|VBG lines|NNS fell|VBD 10|CD %|NN to|TO #|# 118|CD million|CD from|IN #|# 130.6|CD million|CD .|. 

While|IN there|EX were|VBD no|DT one|JJ -|- time|NN gains|NNS or|CC losses|NNS in|IN the|DT latest|JJS period|NN ,|, there|EX was|VBD a|DT one|JJ -|- time|NN gain|NN of|IN #|# 18|CD million|CD in|IN the|DT 1988|CD period|NN .|. 
And|CC while|IN there|EX was|VBD no|DT profit|NN this|DT year|NN from|IN discontinued|VBN operations|NNS ,|, last|JJ year|NN they|PRP contributed|VBD #|# 34|CD million|CD ,|, before|IN tax|NN .|. 

Pretax|JJ profit|NN fell|VBD 3.7|CD %|NN to|TO #|# 128|CD million|CD from|IN #|# 133|CD million|CD and|CC was|VBD below|IN analysts|NNS '|POS expectations|NNS of|IN #|# 130|CD million|CD to|TO #|# 135|CD million|CD ,|, but|CC shares|NNS rose|VBD 6|CD pence|NN to|TO 388|CD pence|NN in|IN early|JJ trading|NN yesterday|NN in|IN London|NNP .|. 

Reed|NNP is|VBZ paying|VBG an|DT interim|JJ dividend|NN of|IN 4.6|CD pence|NN ,|, up|RB 15|CD %|NN from|IN 4|CD pence|NN a|DT year|NN earlier|RBR .|. 

Sales|NNS fell|VBD 20|CD %|NN to|TO #|# 722|CD million|CD .|. 

Earnings|NNS were|VBD hurt|VBN by|IN disposal|NN of|IN operations|NNS in|IN its|PRP$ restructuring|NN ,|, Reed|NNP said|VBD .|. 

