RIYADH, 21 March 2005 — Saudi Arabian food group Savola has agreed a one-for-four bonus share issue, funded by transfer of cash from reserves and raising its paid up capital to SR1.25 billion ($333 million), the company said yesterday. The bonus share issue, agreed at an extraordinary general meeting of shareholders on Saturday, took effect yesterday. The stock, which closed on Saturday at SR972, was trading yesterday in a range close to SR750. Savola’s net profit rose 67 percent last year to more than SR500 million, with total sales up 25 percent in the same period.