Saudi food manufacturing and retail giant Savola Group recorded a surge in net profit for the first quarter of the year, bolstered by its robust food processing business.

The listed firm’s net profit for the quarter ended March 31, 2026 reached SAR 284.52 million ($75.87 million), marking a 50.41% increase over the same period last year.

The food processing segment saw profit jump to SAR 219 million due to higher sales volumes in edible oil and pasta, improved margins and enhanced cost efficiencies.

The company also recorded a non-recurring gain of more than SAR 40 million following its move to exit its operations in Sudan.

It also managed to narrow losses in its food services segment from SAR 19 million to SAR 4 million.

Shareholders’ equity rose by 18.96% to SAR 5.71 billion.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com