Jun 11 2011 |
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Saudi Savola Group Sees 2011 Net Profit Hit SAR1B -Report
Saturday, Jun 11, 2011
BEIRUT (Zawya Dow Jones)-- Savola Group (2050.SA), Saudi Arabia's biggest food company, expects to achieve a full-year net profit of 1 billion Saudi riyals ($266.7 million) in 2011, Abdulraouf Mannaa, the group's managing director, said during Savola 's managers' annual conference Thursday, Saudi-based Al Riyadh daily reports Saturday.
The group, which is also engaged in the retail and plastic manufacturing sectors, reported in January a 6.8% year-on-year drop in its 2010 full-year net profit to SAR886.7 million.
Newspaper website: http://www.alriyadh.com/2011/06/11/article640620.html
Copyright (c) 2011 Dow Jones & Co.
11-06-11 0736GMT
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