Saudi Arabia's Savola Group posted a 13.6 percent rise in second-quarter net profit on Tuesday as it gained market share in the kingdom's retail sector.
The food company made a quarterly profit of 387.8 million riyals ($103.4 million) for the three months to June 30. This compares with a quarterly profit of 341.3 million riyals in the year-earlier period.
The company attributed the increase to its greater market share in the retail sector and "sustained growth in the edible oil segment", according to a bourse statement. Savola also proposed a second-quarter dividend of 0.5 riyals per share.
