Savola Set To Beat Year End Consensus

Saudi Arabian diversified conglomerate Savola looks set to outperform year-end consensus projections after raising its profit forecast by more than 5% on the back of a stellar third quarter (the three months to September 30 2009) showing. Net income strengthened 75.8% year-on-year (y-o-y) to SAR277.8mn (US$74.1mn) in the period on the back of the significant sales momentum generated by the holy month of Ramadan. Able to call on a hefty portfolio of assets across the food and mass grocery retail (MGR) industries, Savola is particularly well placed to take advantage of BMI's forecast that through to 2014 food consumption in

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