RIYADH: Savola Group, a major food retailer in Saudi Arabia, has seen a 76 percent surge in first-quarter profit on the back of higher commodity prices in the food processing segment. Net profit soared from SR154 million ($41 million) to SR271 million from the same period in the prior year, the group said in a bourse filing. This came in line with a 26 percent revenue jump to SR7.5 billion, with food processing and retail units accounting for SR4.3 billion and SR2.8 billion, respectively. Savola attributed the improved figures to a recovery in the retail segment, in addition to a rise in food commodity prices. Established in 1979, Savola’s major holdings supply Saudi Arabia, the Middle East and North Africa, and Turkey with edible oils, sugar, fresh dairy products, and fast-food restaurants.