Generally Accepted Accounting Principles

Savola Q1 profit plummets 80%, dividend slashed

04-May-2016 By Eliot Beer

Saudi food producer Savola has slashed its dividend after announcing an 80% fall in first-quarter profits year-on-year, with food revenues falling 8.6%, brought down by its edible oil operations.

Savola annual profit down 13%, as new CEO takes over

28-Jan-2016 By Eliot Beer

Savola’s full-year profits were down 13.5% on 2014 at US$478m thanks to a subsidiary sale, as Q4 profits beat analyst predictions, and the firm announced a new CEO appointment.

Savola profit falls 47%, while Almarai gains 10% in Q3 results

04-Nov-2015 By Eliot Beer

Saudi food giants Savola and Almarai reported very different Q3 results, with Savola’s profit dropping 47% to US$99m, and Almarai’s up 10.3% at US$158.7m, but both missing analyst’s forecasts.

Savola profits down 15%, more falls to come

11-Aug-2015 By Eliot Beer

The Savola Group saw profits fall 15% in its second quarter, and warns full-year profits could be down 10%, because of oversupply of commodities and a larger retail sector.

Juhayna profits up 64% as costs fall

24-Jul-2015 By Eliot Beer

Egyptian dairy and juice producer Juhayna saw profits rise 64% year-on-year to US$8.3m in its second quarter, with total revenue of US$140.6m, up 16%.

Almarai profit up 22%, but subsidiaries lose US$87m

14-Jul-2015 By Eliot Beer

Saudi food producer Almarai announced a 22.4% rise in profits to reach US$141m for its second quarter, with increased sales, but also a US$87.5m write-down of its subsidiaries.