Savola celebrates growth at conference
Jeddah, May 23, 2012
The Savola Group recently held its annual conference under the theme “The Sustainable Growth” and celebrated a record year by screening a documentary film highlighting the achievement of SR1 billion ($270 million) operating profit for the fiscal year 2011.
“This year our group’s Annual Conference looked back on the momentous achievements of 2011 culminating in a net profit of more than SR1 billion generated mainly from operation, which we have commemorated with a film showing how the Group reached this major milestone,” said Dr Abdulraouf Mannaa, managing director of The Savola Group.
“What is most important for the future is that this record breaking profit was achieved through sustainable growth in all sectors, which is the key to the group’s ongoing success across the three core sectors of food, packaging and retail.”
Established in Jeddah in 1979 with a paid up capital of SR40 million and 200 employees, The Savola Group is now worth SR5 billion and employs more than 17,000 employees inside and outside the Kingdom.
Evolving from a single brand, the group now owns well known commercial brands including Afia, Al Arabi, Rawabi, Al Osra and Panda.
The company currently operates through nine factories in Jeddah, Riyadh, and Egypt. – TradeArabia News Service