The Saudi Savola Group posted a net operating income of 153 million Saudi Riyals ($41 million) in 2001, up from SR 137.6 million in the previous year of 2000, reported Al-Watan. The Chairman of the Board, Adel Faqih, stated that these figures translate into a net income rise of SR 15.5 million, which is equivalent to 11.3 percent. Faqih also stated that the company’s sales hit 3.3 billion Saudi Riyals ($ 880 million) in 2001 compared with SR 2.8 billion in the previous year of 2000, a 16 percent growth rate. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
