Rising exports of vegetable oil have boosted quarterly profits at Spain’s SOS Group.

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The company, which also produces rice and biscuit brands, said rising olive oil production throughout Spain had depressed prices and led to rising demand.


SOS posted a 32% leap in net profit to EUR25.5m (US$34.5m) during the three months to the end of March, thanks largely to a 25% rise in exports. Higher margins overseas fuelled the rise in profits with group revenue inching up by only 2% to EUR219.9m.


Sales in Italy, where SOS is the largest producer of olive oil, rose 6%. In all, vegetable oil accounts for almost two-thirds of sales and over half of profits at SOS.

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