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FINANCIAL NEWS
Saudi Savola reports USD108m profit in Q3
17 Oct 2012
(MENAFN) Saudi Savola Group reported a 31.6 percent increase in quarterly profits on increased sales and market share in retail sector, Reuters reported.
The company said it gained USD108 million net profit during the third quarter, up from USD82.12 million a year earlier.
Savola, which owns the Middle East’s biggest sugar refining business, expected to earn USD90.65 million, before capital gains, for the third quarter.
Operating profit for the quarter increased by 30.7 percent to USD164.45 million, compared to USD125.8 million a year earlier.
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