Bakery products company United Biscuits Sur, the Spanish and Portuguese subsidiary of UK-based United Biscuits, has posted 2002 turnover of €299.5m (US$330.1m), a 15.1% increase year-on-year.

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The company, which is headquartered near Barcelona, said earnings before interest, tax, depreciation and amortisation (EBITDA) for 2002 were €38.9m, an increase of 33.7% year-on-year.

United Biscuits Europa Sur said the strong 2002 results were in part due to the company’s 48% year-on-year increase in investments in advertising, reported the Spanish News Digest.

The company, which operates two factories in Spain, has a 26.5% share of the biscuits market in Spain and Portugal.

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