Riyadh-Mubasher: Savola Group recorded SAR 434.4 million in net earnings during the second quarter of 2015, falling 15.37% compared with SAR 513.3 million a year earlier.

The six-month net income also dropped 3.37% year-on-year from SAR 936.5 million to SAR 904.9 million.

The company said Q2 profit decline was due to the capital gain recognized during the second quarter of last year from the disposal of Kazakhstan operations, in addition to the dividend received from one of its associate during Q2 of last year.

Savola attributed H1 profit fall to reduced share of net income and dividend income from some associates.