Bodegas Riojanas Targets Annual Profit Growth of as Much as 10%

Bodegas Riojanas SA, a Spanish producer of Rioja wine founded in 1890, expects full-year earnings to climb from a year earlier as promotions and lower operating costs offset a battered domestic market.

The Cenicero, Spain-based company may report net income growth of between 5 percent and 10 percent, Chairman Luis Zapatero said in a telephone interview today. Last year’s profit climbed about 6 percent to 700,000 euros ($952,000) on sales of 15.3 million euros.