Savola brands may have a high profile in the region, but our investors know that this is only one part of the picture. We also use the expertise we have built up over the past four decades to strategically invest in food-sector companies. And this is why: stakes in growing companies give us greater insights into the industry and safeguard our profits by diversifying risk.
To take just one example, we own a 36.52% stake in Almarai – the world’s largest vertically integrated dairy business. This listed joint stock company offers a range of products in the fresh laban, cheese, juice, baked goods and poultry categories, and each of these business sectors is currently enjoying rapid growth.
Almarai achieved sales of SAR 14,698 million for the year, an annual increase of 6.6 percent. Gross profit amounted to SAR 5,833.6 million, up 10.4 percent on 2015’s SAR 5,283.3 million. Diluted earnings per share, based on net income attributable to shareholders, rose from SAR 2.33 to SAR 2.52, yielding a contribution of SAR 762 million to Savola’s net income.
Savola and Almarai have a long-standing relationship and we are now proud to be the company’s largest single shareholder.
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