Villajoyosa, eastern Spain-based chocolate producer Chocolates Valor has posted €38m (US$33m) turnover for 2001, up 6% year on year.

Of the total 2001 turnover, the company's franchises accounted for €4m, almost 10%, and a total 92% was generated in Spain.

Chocolates Valor exports to 25 countries, the most prominent importers being Venezuela, the US, the UAE, Japan, Mexico, and the UK.

The company expects to see another increase in turnover during 2002, to more than €40m.