Saudi food group Savola year-on-year quarterly profit slides on lower retail sales
Saudi food group Savola posted an 11% drop in net profit for January through March as retail sales slumped compared to the same period last year.
The company reported in a stock exchange filing on Thursday (April 29) net profit of 153.8 million riyals ($41.01 million) for the first-quarter of 2021.
Net profits from food processing, investments and frozen foods increased by 41.1%, 17%, and 5.4%, respectively.
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