Arab Today, arab today savola group q1 net profit rises 467
Last Updated : GMT 11:21:26
Arab Today, arab today
Arab Today, arab today

Savola Group Q1 net profit rises 46.7%

Arab Today, arab today

Arab Today, arab today Savola Group Q1 net profit rises 46.7%

Riyadh - Arabstoday

Saudi Arabia’s food and drink manufacturer Savola Group  recorded a 46.7 per cent jump in first-quarter net profit, beating forecasts.  The firm reported earnings of 242.2 million riyals ($64.6 million), up from 165.2 million riyals a year earlier, according to a statement posted on the bourse website. The result beat a survey of five analysts who forecast on average it would earn 235 million in the period. In January Savola said it would likely have first-quarter net income of 220 million riyals before capital gains. Savola, which has a large presence across Middle East markets, said it expected second-quarter earnings to reach 310 million riyals.

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