Spanish food firm, Grupo Siro, has released its financial results for 2013, posting an annual revenue of EUR565m (EU777m), an increase of EU20m compared with last year.

EBITDA posted in at EUR87m.

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The firm said it had sold 330,000 tons of products from its different units – biscuits, pasta, bread, cakes, pastries and cereal.

It had invested EUR11m in R&D during the year – almost 13% of its EBITDA.

Grupo Siro announced plans to invest a further EUR200m in the near future with an emphasis on R&D, improvement of facilities, energy efficiency and new production lines after securing long term credit of EU100m from the European Investment Bank.

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