Spanish food group Ebro Puleva signalled its optimism for its annual results after seeing sales rise by 11% during the first nine months of the year.
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The company yesterday (29 October) posted a 10.8% rise in net turnover to EUR2.17bn (US$2.84bn) for the first nine months of 2008. A jump in sales from Ebro’s rice and pasta divisions drove the increase in group revenue, the company said.
EBITDA reached EUR216.3m, Ebro said. At constant exchange rates, EBITDA grew by 4.7% to EUR225m. Net profit jumped 60% to EUR92.7m.
The figures led Ebro to forecast a 10.8% rise in annual turnover to EUR2.97bn. The company said it saw EBITDA rising 4.7% to EUR321m and net profit jumping 50% to over EUR136m.
“The consolidated results of this nine-month period reflect the strength of Ebro Puleva’s core businesses and its meal solutions segment, which is growing at rates of 20% despite the global shrinking of consumption,” Ebro said. “The market shares of our brands have remained intact and they are leaders in the different segments and countries in which they operate.”
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By GlobalDataEbro added: “Moreover, the company has not felt the adverse effects of the local crisis owing to the group’s extensive international presence and an adequate business diversification. In the light of these achievements, there are excellent prospects for the future growth of our group.”
