Savola Year-End Earnings Up Almost Fourfold

Diversified Saudi conglomerate Savola Group has reported a 371.3% year-on-year (y-o-y) increase in calendar year-end headline earnings to SAR952mn (US$253.9mn). Per share earnings climbed up to SAR1.9 from SAR0.4 a year earlier. The Gulf region's leading sugar refiner and a leading global producer of branded edible oil, Savola is also a significant player in Saudi Arabia's mass grocery retail (MGR) industry. While we continue to see significant room for growth across its core segments domestically, BMI believes that Savola's non-reliance on Saudi Arabia stands it in particularly good stead over the long term.

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