January 20, 2014 / 6:10 AM / 4 years ago

Saudi Savola forecasts 2014 profit of $480 mln -statement

DUBAI, Jan 20 (Reuters) - Saudi's Savola Group expects to make a net profit of 1.8 billion riyals ($479.9 million) in 2014, the food company said in a bourse statement on Monday, also predicting its first-quarter profit would be around 310 million riyals.

Analysts polled by Reuters on average forecast the firm, which has yet to announce its 2013 full-year results, will make a profit of 642.5 million riyals in the fourth quarter of 2013. That would equate to a 55 percent rise from the prior-year period.

$1 = 3.7505 Saudi riyals Reporting by Matt Smith; Editing by David French

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