Spanish food group Ebro Foods has booked an increase in full-year earnings, boosted by marketing and innovation initiatives implemented last year.
Net profit climbed 4.5% to EUR158.5m (US$206.7m), the company reported yesterday (28 February). Year-on-year operating profit grew 8% to EUR242m.
Ebro said it has continued its strategy of “supporting the strong positioning of its brands with a constant marketing and innovation policy”.
“[Ebro] is achieving considerable success in some of its recent launchings, in both its traditional business lines of rice and pasta and in related lines we have branched into recently, such as potato or frozen foods,” it said.
Sales reached EUR2.04bn, a 13% increase on the prior year period.
Kepler Capital Markets analyst Joaquin Garcia-Romanillos said the results were “uneventful”, adding: “All attention should be on future M&A activity as well as the delivery of the strategic shift in the US, although we think it is too early to tell.”