Spanish food group SOS Cuetara has said that it expects to achieve 2004 net profit of €29m (US$34.5m), an increase of 61% from the previous year.

The company expects 2004 sales to rise 29% to €1.0bn, while EBITDA is expected to increase 22% to €94m, helped by the company’s recent acquisition of American Rice, reported AFX News.

SOS Cuetara also said it is prepared for international growth in its research and development operations.