Biotech company Puleva Biotech saw Q1 net profit increased to €250,000 (US$224,800) from €14,000 a year ago.

The biotech arm of Spanish food company Ebro Puleva revealed on Friday that pretax profit in the Q1 rose to €357,000 from €40,000 a year ago, while revenue was up at €925,000 from €538,000 in the first three months of 2001.

This is the first time that Puleva Biotech has released Q1 earnings figures since first listing in December.