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July 25, 2012

SPAIN: M&A boosts Ebro H1 profits

The integration of businesses acquired last year has boosted half-year profits at Ebro Foods, the Spanish food company has said.

By Dean Best

The integration of businesses acquired last year has boosted half-year profits at Ebro Foods, the Spanish food company has said.

Ebro yesterday (24 July) reported a 19.1% increase in net profit to EUR67.2m for the first half of 2012. EBIT was up 14.2% at EUR106.3m. It also reported a 20.6% increase in net sales to EUR1.02bn.

The company said the “successful” integration of businesses purchased in 2011 helped its results.

In December, Ebro announced it would buy two brands from US sales and marketing firm Strom Products. In April, Ebro purchased the rice assets of the then SOS Corporacion Alimentaria.

The group also said its half-year results benefited from a “relatively stable” commodity market, NPD and its rice plant in Memphis becoming “fully operational”.

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