Baron de Ley, the Spanish winemaker, has posted a rise in full-year net profits. The company today announced a 7.4% increase in net profit to €21.4m for the year to 31 December, based on an increase in sales of 18% year-on-year to €76.3m.

The company also announced that investments for 2003 totalled €14.9m, 27% of which went to the purchase of new barrels.

In October last year, Baron de Ley posted a net profit rise in the nine months to the end of September 2003 to €13.9m, compared to €12.4m year-on-year. This was based on sales for the period of €50.3m, an increase of 21%.