A jump in olive oil exports has boosted annual profits at Spanish food group Grupo SOS.

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The company, which also makes a range of biscuit and rice products, said it doubled its net profit last year to EUR26.1m (US$39.7m).


The rise in profits came despite a dip in turnover, which fell 4.5% to EUR1.4bn.


Grupo SOS said a stabilising olive oil price helped offset rising input costs and had led to a “significant increase” in exports.


Sales outside Spain now account for 58% of the company’s turnover.

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