date:Apr 21, 2014
uarterly profit of 323 million riyals.
The firm, a producer of cooking oil, sugar and other foodstuffs, attributed its higher net profit to growth in revenue, increased market share in the retail sector, lower finance charges and larger profits from an affiliate. It did not provide further details.
Savola expects its second-quarter net income before any capital gains to be 410 million riyals, chief executive Abdulraouf Mannaa said in the statement.