Spain's Viscofan say Q1 net profit up 0.5 pct y/y
MADRID, April 24
MADRID, April 24 (Reuters) - Spanish sausage casing maker Viscofan said on Wednesday net profit rose 0.5 percent in the first quarter from a year earlier thanks to a good performance in emerging markets and new investments in China and Uruguay.
First quarter net profit was 23.4 million euros compared to an expected 23.7 million euros in a Reuters poll.
Revenue rose 3.8 percent to 184.6 million euros, below expectations for an increase to 185.8 million euros.
Viscofan, which entered Spain's blue-chip index at the start of the year, is the world leader in artificial casings with more than a quarter of global share, ahead of Britain's Devro which has 13 percent.
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