SPAIN: Baron de Ley wine profit sinks
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%.
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