RIYADH: Saudi food and retail group Savola reported a 36 percent increase in 2026 first-half net profit, driven by stronger operational performance in its food processing business and resilient retail performance despite a competitive market environment.
Net profit rose to SR401 million ($106.9 million) in the first six months of the year, up from SR295 million over the same period of 2025, while revenue increased 3.9 percent to SR13.6 billion from SR13.1 billion, according to a Saudi Exchange filing and the company’s earnings release.
The food processing segment was the main contributor to growth, with higher volumes offsetting lower average selling prices, particularly in sugar, supporting revenue growth.
The retail segment recorded nearly 1 percent revenue growth, supported by an expanded store network and e-commerce revenue, which grew about 2.5 times year on year, despite intense competition in the Saudi grocery market.
The results align with the continued growth in Saudi Arabia’s retail sector, as consumer spending rose 6.8 percent year on year to SR425 billion in the first quarter of 2026, according to a recent Knight Frank report, reflecting resilient consumer demand.
