Spain's Ebro Foods says H1 profit rises 5.5 pct

MADRID, July 26 Fri Jul 26, 2013 8:08am EDT

MADRID, July 26 (Reuters) - Spanish food processing company Ebro Foods said net profit rose 5.5 percent in the first half of 2013 to 71 million euros ($94 million) compared to a year ago, as operating income rose.

Overall revenues fell 1.1 percent the company said, even though sales from rice products rose slightly, after Ebro said it had entered new markets such as India and Italy.

The group said it had cut net debt 10 percent to 324.3 million euros at the end of June, compared to June 2012. ($1 = 0.7555 euros) (Reporting by Sarah White, Editing by Paul day)

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