Friday 29 August 2014
 
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edible oil

Savola sells Kazakhstan unit for $28.5m

Saudi Arabia's Savola Group has sold its loss-making Kazakhstan edible oil business to a Russian company for 107 million riyals ($28.5 million), the Riyadh-listed food producer said in a bourse filing on Sunday. Savola, which

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Savola Q1 net falls 58pc, misses forecasts

Saudi-based Savola Group's first-quarter net profit fell 58 percent it said on Tuesday, blaming higher raw material prices and an increase in expenses, but the company expects earnings to rise next quarter. Net profit for the three mon

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Savola takes full control of sugar, oil unit

Saudi-based Savola Group will take full control of its edible oil and sugar affiliate and boost its control over the retail business after a planned new share swap with family-owned Al-Muhaidib Group. Savola also said its board agreed to n

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Savola in new $330m Al-Muhaidib share swap

Saudi-based Savola Group will take full control of its edible oil and sugar affiliate and boost its control over the retail business after a planned new share swap with family-owned Al-Muhaidib Group. Savola also said its board agreed to n

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Capital gain boosts Savola's Q1 net profit

Saudi-based Savola Group on Sunday posted a 104 percent rise in net profit during the first quarter, almost half of which came from non-recurring capital gains, beating analyst forecasts. The firm, whose products include edible oil, sugar

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Savola to up Saudi capacity to 400,000 tpy

Savola Foods will raise its edible oil refining capacity in Saudi Arabia to 400,000 tonnes per year (tpy), from 300,000 tpy, when a new refining unit comes online end-2009, the company's chief executive said on Tuesday. Zouhair Eloudgh

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Saudi Savola eyes Egypt edible oil firms

Saudi conglomerate Savola Group is looking for acquisitions among Egyptian edible oil firms to take advantage of the country's large population, its vice president was quoted as saying on Thursday. Savola, which agreed to pay 51.7 million

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Savola profit plunges, warns of higher prices

Savola Group, Saudi Arabia's largest food company, said third-quarter profit plunged 72 percent after a capital gain last year. It warned higher international commodity prices would hurt earnings. Net income in the three months to

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