Spanish food group Ebro Puleva has booked a jump in first half profits as the business readjusts in the wake of its exit from the dairy sector.
Ebro Puleva posted a 30.5% increase in net profit from continuing operations to EUR55.4m (US$72.5m) for the first six months of 2010.
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On a reported basis, net profit was down 23.6% at EUR75m in the wake of March’s sale of its dairy business to Lactalis.
EBIT climbed 19% to EUR104m.
Net sales, meanwhile, slid 6% to EUR848.8m as Ebro Puleva passed on falling raw-material prices to its retail customers.
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