Spanish meat processor Campofrio has said it expects its sales to increased almost 5% per year over the next three years.

However, the company expects sales to slide around 4% this year to €1.03bn (US$1.27bn) because of its 2003 divestment of fresh meat company Primayor, reported Reuters.

Campofrio said it expects net profit to increase in 2004 to more than €30m, compared to €12m in 2003, while earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to rise to €116m-121m, from €101m in 2003.

The company plans to increase the amount it spends on advertising by 40% this year, with the aim of increasing the market share of all its brands.