SPAIN: Profits up at olive oil firm Deoleo

By Michelle Russell | 9 November 2012

EBITDA climbs to EUR62.4m
Net profit at EUR2.9m
Net sales drop 12.9%

The company attributed the increase to improved margins and efficiency measures

Spanish olive oil producer Deoleo has recorded an increase in profit in the first nine months of the year.

EBITDA amounted to EUR62.4m (US$79.4m), compared to EUR47.7m last year. The company attributed the increase to improved margins and efficiency measures undertaken throughout 2011.

Net profit in the period amounted to EUR2.9m. The company did not give a comparable figure.

Sales in the period stood at EUR627m, representing a drop of 12.9% on last year as a result of a fall in raw material prices and the "lack of packaging operations", it said.

Deoleo has forecast full-year EBITDA of EUR89m.

Sectors: Condiments, dressings & sauces, Financials