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FINANCIAL NEWS
Saudi’s Holding Co. net profit drops by 22 percent
31 Jul 2016
(MENAFN) Saudi Arabia’s kingdom Holding recorded a 22 percent drop in second quarter net profit, as income from associated and dividends dropped.
Moreover, the firm made a profit of USD49.5mn in the cited quarter, down from USD 63.48mn in the same period of last year.
The drop was attributed to lower income from associates, joint ventures and other income sources, in addition to drop in dividends income.
The kingdom started a sales process for its Four Seasons hotel in the Canadian city of Toronto, which expected to sell almost USD250mn.
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