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 made to Al Alamiya for Cooperative Insurance Company after a fire in June 2013 at a raw sugar warehouse belonging to United Sugar Company, Savola said in a bourse filing.

It added that the full claim agreement was for SR548 million, but much of the cash had already been allocated by the insurer to assist with rebuilding work.

Savola reported a net profit of SR434.4 million in the final three months of 2014.  - Reuters