The Hatfield-based company, which posted a pre-tax profit of £2.4m for the same period last year, booked a one-off charge of £1.6m after making 116 staff redundant in a review of its UK operations.
The gift wrap and Christmas cracker manufacturer also revealed that a further 83 staff have been made redundant since the close of the current reporting period, taking the total job cuts to 199.
International Greetings chairman Keith James OBE said: "In the UK, the restructuring of the Greetings Division continued during the first half of this financial year with significant items of £1.6million.
"We anticipate that the restructuring will be concluded by the year end in March and that our business model will then be aligned with the current demands of the UK market place."
In a separate announcement, the company revealed that chief executive Nick Fisher will resign from the board on 31 December. He will be succeeded by group managing director Paul Fineman.
International Greetings, which said earlier this year that it aimed to return to profitability by 2010, posted a 9.5% increase in turnover to £100.5m for the period.
No dividend at International Greetings after pretax loss
International Greetings has ditched its interim dividend and announced the departure of its chief executive after slipping to a 7.8m pre-tax loss in its first-half results.
