Spain's leading Sherry bodega and bottler of Tio Pepe, Gonzalez Byass, has just announced sales of €168.73m (US$152.31m) for its last financial year, which closed on 31st August. In spite of the 10% rise in sales, net profits were down 7 % at €7.2m, due to an increase in marketing spend in support of its two flagship brands Tio Pepe Sherry and Soberano brandy.