SPAIN: Net profit fall at Bodegas Riojanas
Spanish wine company, Bodegas Riojanas, posted a net profit of €1.3m (US$1.1m) for 2001, 42% down on 2000. Sales fell from €13.3m to €12.2m. Production rose during 2001 but lower wine prices impacted on the financial performance, the Rioja-based company said. Gross profit totalled €4.0m in 2001. The company said the market had shown signs of recovery during the fourth quarter and it expected this trend to continue in 2002.
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