Saturday 6 February 2016
 
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Savola

Savola Group hires JP Morgan's Fayez as CEO

Saudi Arabia's largest food products company Savola Group said it appointed JP Morgan's Rayan Mohammed Fayez as chief executive, it said in a bourse filing on Tuesday. Fayez, who was previously chief executive of JP Morgan

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Energy price hike to cost Savola $28m in 2016

Savola Group, Saudi Arabia's largest food products company, said on Tuesday that changes to energy and gas feedstock prices announced by the government will raise its costs by around 105 million riyals ($28 million) in 2016. C

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Savola Q3 net profit plunges 47pc

Savola Group, Saudi Arabia's largest food products company, reported a 47 per cent fall in third-quarter net profit on Monday, missing analysts' forecasts. Net earnings in the three months to September 30 were SR371.6 mill

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Savola to book $25m Q4 gain on insurance claim

Savola Group, Saudi Arabia's largest food products company, will book a gain in the fourth quarter worth SR94 million ($25.1 million) after agreeing final terms for an insurance claim relating to a subsidiary. The claim was ma

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Savola unit signs JV deal with Thai Union Frozen

Thai Union Frozen signs JV deal with Saudi Arabia’s Savola Thai Union Frozen Products, the world's largest canned tuna maker, said on Tuesday it had signed a joint venture agreement with a subsidiary of Saudi Arabia'

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Savola Q2 profit falls 15pc, warns Q3 profit will also drop

Saudi Arabia's Savola Group reported a 15.4 per cent fall in second-quarter net profit on Tuesday, missing analyst forecasts as the food producer warned its third-quarter profit was likely to plunge. The company made a net pro

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Savola tops MEA in consumer product sales

Savola, a multinational food group based in Saudi Arabia, recorded the biggest consumer product sales in the Middle East-Africa (MEA) region during the fiscal year ending June 2014, a report said. While Savola claimed the 111th ra

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Top 250 consumer products firms log $3trn sales

The world’s 250 largest consumer products companies generated sales of nearly $3.1 trillion in fiscal year ending June 2014, despite economic uncertainty, a report said. This resulted in an average company size of $12.3 bill

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Savola Q1 profit rises 11.2pc

Saudi Arabia's largest food products firm, Savola Group, posted an 11.2 per cent jump in first-quarter earnings on Sunday, but said profits in the second-quarter would be down by comparison with a year ago. Among the few Saudi

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OMD Arabia wins Savola accounts

Saudi Arabia-based Savola Group has extended its relationship with OMD Arabia, a global media network part of the Omnicom Media Group, by assigning its newly created corporate account and as well as reappointing OMD Arabia on its retail account.

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