Savola Shares Drop 10% After Reporting Fourth-Quarter Loss

By Shaji Mathew

Jan. 18 (Bloomberg) -- Savola Al Azizia United Co.’s shares dropped 10 percent after the largest food producer in Saudi Arabia reported a loss of 464 million riyals ($124 million) in the fourth quarter, compared with a profit of 177 million riyals in the year-earlier period.

The shares declined to 20.7 riyals, the lowest level since Nov. 24 last year, on the Saudi bourse.

To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net