The Rioja-based wine group, Bodegas Paternina, posted a €2.25m ($2.24m) loss for the first half of 2002, representing a 28% improvement on the first half of 2001.

Turnover reached €14.42m ($14.33m) for the first six months, up 22% from the corresponding period in 2001. Exports accounted for 28% of sales in the first half of the year.

Paternina recorded a €6.4m (US$5.6m) net loss in 2001 on sales 32% lower at €29.3m. The company said earlier this year that it expects to move back into profit in 2004.