Rising exports of vegetable oil have boosted quarterly profits at Spain’s SOS Group.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company, which also produces rice and biscuit brands, said rising olive oil production throughout Spain had depressed prices and led to rising demand.
SOS posted a 32% leap in net profit to EUR25.5m (US$34.5m) during the three months to the end of March, thanks largely to a 25% rise in exports. Higher margins overseas fuelled the rise in profits with group revenue inching up by only 2% to EUR219.9m.
Sales in Italy, where SOS is the largest producer of olive oil, rose 6%. In all, vegetable oil accounts for almost two-thirds of sales and over half of profits at SOS.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
