Wednesday 29 July 2015
 
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Savola

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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Savola cuts first-quarter profit forecast by half

Savola Group, Saudi Arabia's largest food products company, slashed its first-quarter net profit forecast by about half and blamed weak retail sales and currency losses. Savola, one of the few Gulf companies to publicly disclo

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Saudi Takween signs $347m loan for Savola unit buy

Saudi Arabia's Takween Industries has signed a SR1.3 billion ($346.6 million) Islamic loan with a group of local banks to fund the acquisition of Savola Packaging Company, it said on Wednesday. Takween in December agreed to bu

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Savola misses estimates with 23pc profit drop

Saudi food producer Savola Group, the country's largest food products company, reported a 23 per cent drop in fourth-quarter net profit on Sunday, missing analyst forecasts. Net earnings in the three months to December 31 were

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Americana still in talks for sale

Talks are still under way with several parties for a sale of the business of Kuwait Food Company (Americana), the company's biggest shareholder said on Thursday. Americana, backed by Kuwait's billionaire Al-Kharafi family,

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Takween to buy Savola packaging unit

Saudi Arabia's Takween Advanced Industries said on Wednesday it had agreed to buy a packaging unit of the region's largest food firm Savola Group for SR910 million ($242.5 million). The firms reached agreement the price fo

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