Riyadh – Mubasher: Saudi Arabia’s Development Works Food Co (DWF) has signed a three-month memorandum of understanding (MoU) with Gulf Co. for Restaurants and Parks Ltd to examine a possible acquisition of fast-food brand Quiznos Sub.

DWF last reported a 2.9% increase in profits, after calculating Zakat and Tax, reaching SAR 2.31 million by the end of the third quarter of 2018, compared to SAR 2.24 million in Q3-17.

At the level of the first nine months, the firm’s profits levelled up 7.4% to SAR 6.34 million, from SAR 5.92 million in the corresponding months a year before.

By 11:58 am Saudi time, DWF’s stock rose 1.67% to SAR 61.