Pact Group has signed its previously mooted deal with Woolworths to supply recycled materials for the supermarket chain’s own brand packaging, Pact chief executive Sanjay Dayal said as the company swung to an interim net profit of $23.9 million.

Pact, which is partially owned by Rich Lister Raphael Geminder, and Woolworths revealed in July that they had entered a memorandum of understanding but only inked a formal agreement for the recycling deal on Wednesday, Mr Dayal said.