PORTUGAL: Sogrape profits leap 81%
The Portuguese winemaker Sogrape has reported a consolidated net profit of €20.7m (US$25.4m) in 2003, a jump of 81% compared to a year before.
Turnover reached €170m, up by 15%. The company attributed the rise in principal to the port wine and sherry maker Sandeman. Sogrape acquired Sandeman in 2002.
Earnings before interest, tax, depreciation and amortisation were €34.7m.
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