Spain’s Grupo SOS has reported a 24% rise in first-quarter net attributable profit to €6.5m (US$7.7m).

The company, which makes rice, olive oil and biscuits, reported first-quarter net sales of €257.6m, compared to €202.0m in the same period of the previous year, reported Reuters.

SOS said the improved results reflected its acquisition of American Rice earlier in the year.

The company also forecast a strong olive oil harvest in the 2003-2004 period, of over 1.4 million tonnes.