Spanish functional foods maker Natraceutical has reported a 5% jump to €2.5m (US$2.9m) in nine-month net profits, boosted by a 68% sales rise to €34.2m.
Gross operating profits (EBITDA) rose 13% to €4.4m, Valencia-based Natraceutical said in a statement. The results reflect the strong performance of Swiss and UK subsidiaries Obipektin and Overseal, which Natraceutical absorbed when it bought Braes Group for €80m in July.
Natraceutical, part of Spanish chocolate and food group Natra-Zahor, said it intends to grow strongly in the United States and in Asian markets. The company reiterated its plan to grow organically and through acquisitions in those countries.
Meanwhile, Spanish press reported that Natra-Zahor is considering selling up to 11% of Natraceutical to lower its controlling stake to 51% from 62% currently. The company is looking for buyers who can provide cash and business know-how to Natraceutical, daily Expansion reported.
The sale would respond to Natra’s desire to put a stronger focus on its cacao and chocolate-making businesses. Natra could not immediately be reached for comment.