SPAIN: Exports drive quarterly profits at Baron de Ley
Baron de Ley has posted a lift in net profit for the first quarter of 2008, driven by rising export sales.
The Spanish winery, which is listed on the stock exchanges of Madrid, Barcelona, Bilbao and Valencia, said yesterday (5 May) that net profit for the first three months of 2008 increased by 8.3% on the corresponding quarter a year earlier, hitting EUR4.5m (US$6.9m).
Sales in the quarter were up by 11% to EUR21.8m, with exports leaping by 13% to EUR8.1m.
Operating profit for the quarter was flat, up 0.6% to EUR6.1m.
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