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.

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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.

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