Spanish Cava producer, Freixenet, posted a net profit of €25.6m for the 2001/2002 fiscal year to the end of April, up 54% from last year.

Turnover at Freixenet rose by 31% to €528m. During 2001, Freixenet acquired the French wine company, Yvon Mau, and the Australian Wingara Wine Group.

In volume terms, Yvon Mau and Wingara accounted for 48m of the 198.9m bottles which the Freixenet group sold during the period under review.

Freixenet said that its Argentinean subsidiary posted a €200,000 loss for the 2001/2002 fiscal year which it attributed to the economic crisis in the country.