Healthier margins from olive oil have driven a rise in nine-month profits at Spanish food firm SOS Cuetara.

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Net income rose 10.8% to EUR13.5m (US$19.7m) in the nine months to the end of September.


Turnover, however, dipped 3.2% to EUR1.02bn.


In June, a company insider told just-food that SOS Cuetara was searching for a new acquisition in the US and had $1bn to spend on such a transaction.


Madrid-based SOS was seeking to acquire a rice or olive oil manufacturer in the US, which it has identified as its main expansion market.

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