The quarterly net profits of Kingdom Holding Company (4280) exceeded 196 million riyals, with an increase of approximately 14.7% on a yearly basis.
Real Estate
The company, majority-owned by Saudi Prince Alwaleed bin Talal, attributed its high profits in the first three months of the current year to several factors, including:
– Increased gains from the sale of investment properties
– Growth in its share of results from companies in which it invests through equity ownership
– Increase in financing revenues
So What
Earnings per share in the current period equaled that of the first quarter of the previous year, reaching 0.05 riyals.
Some Context
Kingdom Holding, known for its investments and influential stakes in numerous local and global companies, experienced a decline in its revenues during the first quarter of the current year.
This amounted to about 16% on a yearly basis, reaching 564.4 million riyals.
This decline is attributed to a decrease in dividend revenues and a decrease in revenues from hotels and other operating revenues.
