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Savola Group's profit down 45% in nine months

Savola Group's profit down 45% in nine months
Sales increased to SAR 17.91 billion in the nine-month period
SAVOLA GROUP
2050
0.00% 31.55 0.00

Riyadh – MubasherSavola Group reported SAR 476.2 million in net profits after Zakat and tax in the first nine months of 2021, down by 45% year-on-year (YoY) from SAR 866.1 million. 

Earnings per share amounted to SAR 0.89 in the January-September period, compared to SAR 1.62 in the corresponding period a year earlier, the company said in a bourse filing on Wednesday. 

Sales increased to SAR 17.91 billion in the period ended 30 September from SAR 16.51 billion in the prior-year period. 

As for the third quarter (Q3) of 2021, Savola Group logged SAR 122.4 million in net profits after Zakat and tax, down by 56.8% YoY from SAR 283.7 million. 

The sales grew to SAR 6.05 billion in the July-September period, compared to SAR 4.58 billion in the same period in 2020. 

In the first half (H1) of 2021, Savola Group posted net profits after Zakat and tax of SAR 353.8 million, down from SAR 582.3 million in H1-20.