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November 16, 2010

SPAIN: SOS narrows nine-month losses

Spanish food group SOS Corporacion Alimentaria narrowed its losses in the first nine months of the year.

Spanish food group SOS Corporacion Alimentaria narrowed its losses in the first nine months of the year.

For the period to the end of September, the olive-oil bottler said losses before taxes narrowed to EUR10.7m (US$14.5m) from a loss of EUR134.1m a year earlier.

Turnover however, slid 12.9% to EUR961m EUR1.06bn in the comparable period last year.

EBITDA climbed to EUR75.8m from a loss of EUR12.9m in the prior-year period.

Despite this, the firm said it managed to reduce its net financial debt in the period to EUR110m.

Click here to view the full earnings release.

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