News Column

BRIEF: Kingdom Holding first half net profit surges 16.8%

July 21, 2014

Arab News, Jeddah, Saudi Arabia



July 22--RIYADH -- Kingdom Holding Company, chaired by Prince Alwaleed bin Talal, has announced the consolidated financial results for the second quarter and the six months ended June 30, 2014.

The company announced a net income of SR211.7 million for the quarter ended June 30, 2014 compared to the net income of SR181.2 million for the same quarter in 2013, representing an increase of 16.8 percent, and compared to the net income of SR126.4 million in the previous quarter, representing an increase of 67.5 percent.

The gross operating profit for the quarter ended June 30, 2014 amounted to SR420.3 million compared to the same quarter in 2013 of SR332.9 million, representing an increase of 26.2 percent.

Mohammed Fahmy CFO, commented: "The second payment of dividends has been deposited in shareholders' accounts. The outlook for the company's profitability remains strong."

KHC, founded in 1980, is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007.

KHC is one of the world's most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player in the Arabian Gulf region, and internationally.

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(c)2014 the Arab News (Jeddah, Saudi Arabia)

Visit the Arab News (Jeddah, Saudi Arabia) at www.arabnews.com

Distributed by MCT Information Services


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Source: Arab News (Saudi Arabia)


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