Spanish winery Baron de Ley has posted a 26% drop in 2008 net profit to EUR18.8m, hurt by a sharp decline in domestic sales.

The group said sales totalled EUR87m, down 7% from 2007, amid slumping domestic wine sales in recession-hit Spain.

Baron de Ley would not provide more information and could not be reached for comment.

In the nine months to the end of September, Baron suffered a 5% profit drop to EUR13m as domestic sales plummeted 6%, although exports increased 2%.