Second-quarter income climbed to SR230.7 million ($61.52 million) compared to a profit of SR207.65 million in the year-ago period, the food company said in a statement on the bourse website.
Analysts surveyed by Reuters expected the firm to post an average of SR220.48 million for the first quarter.
Savola, which owns the Middle East’s biggest sugar refining business and produces edible oil, said it expects to make a net profit before capital gains of SR300 million in the third quarter.
The company also expects 2011 profit before capital gains of 1 billion riyals.
Savola posted first half sales of SR11.95 billion, up 23.8 percent from SR9.65 billion during the comparable period one year earlier.
Second quarter sales amounted to SR6.35 billion, according to Reuters calculations.
The firm said its board also approved a dividend of SR0.25 per share for the second quarter.
