Dr. Abdulrauof Mannaa (fifth from left), Managing Director of The Savola Group, with other tops executives of the Group, during the SR1 billion profit celebration. JEDDAH – The Savola Group reported a powerhouse performance resulting in operating profit of more than SR1 billion in 2011, and to mark this milestone achievement, Savola held a high profile celebratory event for over 400 attendees including board members, the management team, key executives from across the region, employees and other guests. In his keynote speech, by Dr. Abdulrauof Mannaa, Managing Director of The Savola Group, said "on our road to becoming one of the most successful enterprises in the entire Middle East – a road on which we have traveled for 33 years – we have grown from a single company that was established with a paid up capital of SR40 million into a diversified group that is now worth SR5 billion. And from a company that started with 200 employees in 1979 to a corporation that employs more than 17,000 employees inside and outside the Kingdom." He further said "working together as a team, we have delivered the targeted results by adopting the simple strategy of building on our core sectors – food, packaging and retail – and maintaining our investment in other strategic businesses, including Herfy, Al Marai and Kinan." Dr. Mannaa said a documentary film to celebrate reaching the milestone of SR1 billion profit titled "One Team - One Goal - One Billion" showcases Savola's achievements over the past three decades and the growth that has been achieved in the process of evolving from a single brand into a major global conglomerate. Savola owns popular commercial brands, including Afia, Al Arabi, Rawabi, Al Osra and Panda. He asserts that ethical practice is integral to the Savola Group's success and emphasized that in pursuit of sustainable growth, the management team and employees will continue to follow the balanced way that is fundamental to the Group's corporate culture and is based on Savola's values of honesty, caring justice, conscientiousness and personal control. "By focusing on our core strengths, we are continuously enhancing our capability to deliver a healthy return on shareholder equity and maintain sustainable growth for the benefit of all our stakeholders - and now that we are clearly focused on one direction it is the strength and quality of our people that gives us the confidence to keep on growing and adding value for our shareholders, our community and our employees," Dr. Mannaa noted. Abderrahim Maaraf, Chief Executive Officer of Savola Foods, added: "Savola's success goes beyond the excellence of its products and companies, its impressive market share and strategic expansion - it is a Saudi success story resulting from the Savolan spirit that is reflected in dedication, loyalty and team work at every level of the organization." Mahmoud Abdul Ghaffar, Chief of Corporate Affairs and Board Secretary of the Savola Group, said: "Savola was able in a very short time to transform itself from a regional player into an international conglomerate due brilliant strategic planning based on a far-seeing realization of market needs supported by massive investment in its core sectors."
