Monday 21 April 2014
 
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Savola Group

Savola Q1 net profit surges 21.8pc

Savola Group, the Saudi Arabia-based food conglomerate, posted a 21.8 per cent year-on-year rise in its first-quarter net profit to SR295.2 million ($78.72 million), it said on Saturday, exceeding analysts' expectations. The c

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Savola buys strategic stake in subsidiaries

The Savola Group, the leading Saudi Arabia-based food conglomerate, has entered into a deal with Dammam-based Al-Muhaidib Holding Company, a key player in the kingdom's food distribution sector, to acquire a 10 per cent stake in its subsidia

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Savola approves $186m cash dividends

Savola Group, the Saudi Arabia-based food conglomerate, said the company board had approved the distribution of cash dividends worth SR700 ($186.4 million) to the shareholders. The group operates in three core sectors: the Food sector,

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Savola highlights 2012 success at summit

Saudi Arabia-based  Savola Group, a leading industrial company, highlighted its record achievements in 2012 during its annual conference held recently in Jeddah. The summit, under the theme “Focusing, delivering, and gr

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Savola EGM approves sukuk issuance

The Savola Group, a leading conglomerate in Saudi Arabia, recently held an extraordinary general meeting (EGM) which approved issuance of sukuk with total value not exceeding the company’s paid-up capital. The EGM also voted

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Savola ups stake in Almarai to 36.5pc

Saudi-based Savola Group has raised its stake in fellow Saudi food firm Almarai Company to 36.5 per cent by purchasing shares worth 2 billion riyals ($533 million), Savola said in a statement on Wednesday. The purchase, which incr

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Savola unit growing says HSBC report

Savola Group’s retail operations, through its subsidiary Panda, are growing not only in terms of sales per sq m but due to increasing margins within the retail segment, according to a global research report recently issued by HSBC. Sales p

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Savola honoured for business forum support

The Savola Group, a leading company in the field of food, retail, and plastic industry, was recently honoured for its diamond sponsorship of the Business Ethics Forum held at the Jeddah Hilton Hotel. Mahmoud Abdul Ghaffar, Savola’s board s

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Savola to buy $35m Jeddah tower for new HQ

The Savola Group has signed a contract with Adeem National Construction to purchase the East Tower of The Headquarters Business Park in Jeddah for SR134 million ($35.7 million) for its new headquarters. The Business Park project consists o

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Savola event marks profit milestone

The Savola Group, a leading agricultural and food industries group in Saudi Arabia, recently held a high profile event to mark a profit of more than SR1 billion ($266 million) for 2011. More than 400 people including board members, the man

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