Savola Group — Earnings Release 2013

Jul 17, 2013

Savola Group announces the interim financial results for the period ending on 30-06-2013 (Six Months)

2050 · 17/07/2013 10:05:16 · Announcement #31637 · View on Saudi Exchange

Savola Group announces the interim financial results for the period ending on 30-06-2013 (Six Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	387.8	341.3	13.62	295.2	31.37
Gross profit (loss)	1,249.6	1,193.4	4.71	1,362	-
Operational profit (loss)	648.1	603.9	7.32	711.3	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	683	583.6	17.03
Gross profit (loss)	2,611.6	2,189.1	19.3
Operational profit (loss)	1,359.4	1,042.8	30.36
Earning or loss per share, Riyals	1.37	1.17	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	due to sustained growth in the Edible Oil segment, continued sales growth and increased market share in its Retail Sector.
Reasons of increase (decrease) for period compared with same period last year	is due to the reasons mentioned above.
Reasons of increase (decrease) for quarter compared with previous quarter	Net income has increased mainly due to the reasons mentioned above as well as the seasonal impact experience every year in the Foods sector. Gross profit and operating profit have decreased mainly due to the impact of devaluation of currencies in certain overseas operations, which has impacted negatively on all the line items of income statement.
Other notes	Dr. Abdulraouf M. Mannaa, CEO and MD of Savola Group, highlighted that the 2nd quarter net income (without capital gain) reached SR 387.8 Million which is 6.2% higher than the forecast of SR 365 Million. With regard to the third quarter projection, the Savola Group, Insha Allah, expects to achieve a net income before capital gain of SR 370 million for third quarter of 2013.

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