The firm made Dhs12.8 billion ($3.5 billion) in the six months to June 30, it said in a statement.
Savola’s packaging unit’s consolidated net profit last year fell to SAR69.5 million from SAR100 million a year earlier.
Savola is a major producer of cooking oil, sugar and other foodstuffs in the Kingdom.
The new department store, spread across 200,000 sqft, will showcase over 200 global brands.
The company made a net profit in the three months to June 30 of SAR513.3 million ($136.9 million), compared with SAR387.8 million in the same period a year earlier.
The developer signed a Dhs6 million contract for a beachside entertainment complex in Palm Jumeirah and confirmed that it has signed the contract for Deira Islands Mall.
Cash divident is lower than the SAR1.70 per share which the firm paid for the corresponding period of 2013.
Shisha cafes benefitted the most as they drew late night crowds with suhour menus and live streaming of soccer games.
National Beverage Company (NBC) manufactures and distributes Coca-Cola, Pampa, and other products in Lebanon.
The stake was acquired from a group of investors including private equity firm Jadwa Investment.
The affiliate of Abraaj Capital is seeking to buy at least a 51 per cent stake in the Egyptian snack maker.
Agthia also distributes Al Ain Water, Ice Crystal Water, Capri Sun kid’s juice drink and natural spring bottled water Alpin in the country.
The company said the increase was due higher sales in all segments apart from computers.
Last week, Bloomberg reported private-equity firms KKR & Co LP and TPG Capital were among groups looking to buy a majority stake in the food retailer.
The development will include the world’s largest mall and a range of leisure, retail, cultural, wellness and hospitality options.
The company said rising costs had crimped its half-year profit due to a rising wage bill associated with localisation efforts.
The eight million sq ft mall will be connected to a theme park, theatres, medical tourism facilities and 100 hotels and serviced apartments.
Construction is scheduled to begin in Q4 2014, and the centre is slated to open in March 2016.
Political unrest in Egypt is not affecting work on the mall, confirms George Kostas, CEO of UAE-based retailer Majid Al Futtaim Properties.
A deal could value the company at about $5 billion.
Iftars and suhours during Ramadan will boost revenues in hotels across Dubai, a new survey says.
The iPILOT simulator, located in Magic Planet, will offer the experience of flying the world’s largest passenger jet.
The 620,000 square metre retail destination will form part of the Dubai developer’s new 15.3sq km Deira Islands project.
The store is part of the company’s expansion drive in the American continent.
The luxury Italian brand’s plans include flagship stores and more than one regional hotel.
The luxury device from Tonini Lamborghini will be available across 10 Dubai stores from tomorrow.
The company’s camel milk chocolates will be sold across all major duty free outlets through its listing with Gebr. Heinemann.
The fast food chain will open restaurants in the Texan cities of Houston and Austin, as part of its expansion.
The investment will be conducted through Egypt’s International Company for Agro-Industrial Projects.
Construction on Abu Dhabi’s Reem Mall is expected to begin in 2015, with the project slated to complete in 2018.