Saudi Arabian food group Savola's 2005 net profit soared 139 percent to SR1.2 billion ($320 million), boosted by capital gains from the public offering of its stake in a leading dairy firm. Savola, one the largest firms on the Saudi bourse with a capitalization of around SR45 billion, proposed a dividend of SR40, according to a statement on the stock exchange website. The statement said Savola had paid a dividend of SR25 in 2004 but the bourse website put the figure at SR16.5. Turnover rose 22 percent to SR6.86 billion on the back of good performance of its subsidiaries, Reuters quoted Savola as saying.
