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Company News, Business

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Savola to pay $93m in dividends

The Group reported a net profit of $104m for the first quarter of 2023. (Savola)
By Hilal Mir
March 27, 2023 9:53 pm
  • The General Assembly date will be set after securing the formal approvals from the relevant authorities.
  • The Group reported a net profit of 742.80 million riyals for 2022, a 234.75 percent rise over 221.90 million in 2021.

Dubai, UAE — Saudi food giant Savola Group’s board has recommended a cash dividend of 352 million riyals ($93.7 million) to the shareholders for 2022.

This amounts to 0.66 riyal per share. The date of distribution will be announced later, the company said in Tadawul disclosure.

The General Assembly date will be set after securing the formal approvals from the relevant authorities, in which the related Board’s recommendation will be ratified, the company said.

The Group reported a net profit of 742.80 million riyals for 2022, a 234.75 percent rise over 221.90 million in 2021. The firm recorded 28.05 billion riyals in revenue for 2022, which was 13.72 percent higher than the 24.66 billion riyals the previous year.

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