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Marka stems painful flow of losses with aggressive cost-cutting

(Gulfnews - 15/11/2017)

Marka released its third quarter financial results on Tuesday, reporting a net loss of Dh22 million, an improvement of sorts given the company's losses of Dh126 million in the second quarter of 2017. The company's total revenue fell sharply, however. the

The Savola Group Announces the resignation of its CEO

(Tadawul - 14/11/2017)

Savola Group (Savola) would like to announce its Board of Directors acceptance of the resignation of its Chief Executive Officer (CEO); Eng. Rayan M. Fayez on 14 November 2017. Eng. Rayan Fayez submitted his resignation on 13 November 2017 due to his

Americana posts KD 44 mln profits

(Arab Times - 12/11/2017)

Americana Group (Kuwait Food Company) said Thursday that it has posted profits totaling KD 44 millions (equivalent to $146 million), in the first nine months of 2017. According to Boursa Kuwait website, Americana noted that the company's share for the

Saudi Arabia's Savola Q3 profits rise on Almarai stake sale

(The National - 06/11/2017)

The Savola Group, Saudi Arabia's biggest food company, posted a more than four-fold increase in third quarter net profit, thanks to a one-off 694.1 million riyal gain booked from the sale of a 2 per cent stake in dairy company Almarai. Excluding the

Saudia Dairy to build two new warehouses

(Trade Arabia - 05/11/2017)

Saudia Dairy and Foodstuff Company (Sadafco) said it is building two new warehouses in the cities of Jeddah and Tabuk as part of its expansion plans in the kingdom. The projects, which are forecasted to have a positive impact on Sadafco's profits, have