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FINANCIAL NEWS
Saudi Kingdom Holding’s profit surpasses 12% in Q1
22 Apr 2012
(MENAFN) Kingdom Holding Company’s (KHC) chairman, Prince Alwaleed bin Talal, said that net income for the first quarter exceeded 12 percent from last year’s same period, reported Arab News.
Prince Alwaleed added that for the 3-month period ended March 31, 2012, profit reached USD26.86 million.
He also said that KHC’s profit reveals the firm’s solid investment strategy in spite of the challenges of the global investment climate, due to the euro zone debt crisis, in addition to the political instability in the Middle East.
It is worth noting that in the period, KHC’s gross profit soared 55 percent to USD73.27 million, from USD47.26 million recorded in the same period a year earlier.
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