Abdulraouf Mannaa, managing director, Savola Group, said: "The increase in the group's net income is attributed mainly to the turnaround in profitability of start-ups and overseas operations of the foods sector, continued sales growth and increased market share in the retail sector, capital gain of SR153 million resulting from sale of two lands during Q4 2011, impairment provisions taken during 2010, and Herfy IPO capital gain in Q1, 2010.” Revenues for the year ended Dec. 31, 2011, reached SR25.2 billion, an increase of 20 percent compared to same period last year. “2011 was the best ever financial year for the Savola Group. We recorded the highest ever net income for the year 2011, achieving SR1.08 billion (before capital gain and exceptional items), which is 15.8 percent higher than SR933 million achieved during the previous year, despite challenges in the overseas markets and substantial increases in raw material prices,” he said.