Spanish food group Ebro Puleva has posted 2002 net profit of €95.6m (US$102.5m), a 0.5% increase year-on-year.

The company’s revenues fell 6.9% to €2.15bn, hit by falling sugar sales, but earnings before interest, tax, depreciation and amortisation rose 0.5% to €275.6m, reported Reuters.

Ebro Puleva was formed in 2000 with the merger of sugar company Azucarera Ebro Agricolas and milk firm Puleva.