The worst is still not over yet
During Q1 2017, sales dropped by -9.2% to SAR5.833bn vs. SAR6.422bn by the end of March 2016. The gross income fell by 18.3% to SAR1.04bn vs. SAR1.273bn, a year earlier. Thus, the gross margin reached 17.8% vs. 19.8%, a year ago. The operating income significantly decreased by 58.9% to SAR138.927m vs. SAR338.285m, a year earlier. Therefore, the operating margin reached 2.4% vs. 5.3%, yoy. The net profit collapsed to reach only SAR4.778m vs.Savola Group is a multinational food group based in the Kingdom of Saudi Arabia. Co. is engaged in the manufacturing and marketing of vegetable oils and to set up related industries, retail outlets, dairy products, snack foods, packing materials, exports and imports, commercial contracting, trade agencies and development of agricultural products. Co. maintains a wide portfolio of businesses including Edible Oils, Sugar, Noodles/Pasta, Retail and Plastics. Co. has activities in the Gulf and the Middle East Region, North African and Central Asian countries (MENACA). Co. exports its edible oils, margarine, sugar and plastic to more than 30 countries around the world.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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