Spanish food company Campofrio Alimentacion has posted a 2002 full-year net profit of €22.4m (US$24.2m), a drop of 13% from €25.7m in 2001.

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The company attributed the fall in profit to weaker demand for unprocessed meat products in the third quarter of 2002.

Campofrio said its sales fell 5.3% to €1.43bn.

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