SPAIN: Campofrio sees 2004 net profit of more than €30m
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.
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