SOS Cuetara SA said that net profit rose 29 pct to 13.98 mln eur in the first half to June from 10.83 mln eur a year earlier, boosted by the increased profitability of its olive oil business.
In a statement, SOS Cuetara said that total EBITDA rose 25.2 pct to 47.6 mln eur, while revenue fell 5.34 pct to 676.4 mln eur.
The group said that EBITDA for its olive oil division rose 64.1 pct to 26.3 mln eur, due to ‘a moderation in base olive oil prices’, amid higher volumes over the 2006-2007 period compared to a year earlier.
‘This has been a good first half, thanks mostly to the olive oil business, with growth in the domestic market and, above all, in exports, permitting us to reach our targets laid down at the beginning of the year,’ the group’s chairman Jesus Salazar Bello said.
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