RIYADH: The Kingdom Holding Co. (KHC) announced on Tuesday that its net profit for the first half of this year rose 20.7 percent to SR254.1 million.
KHC Chairman Prince Alwaleed bin Talal announced the company's financial results of operations for the second quarter and the six months ended June 30, 2011.
"Kingdom Holding continues to achieve strong results and profits with a dividend yield of 6.5 percent," he said in a statement.
The company announced a net income of SR163.5 million for the second quarter, an increase of 20.8 percent when compared to the results for the second quarter of 2010.
CFO Shadi Sanbar commented: "The second payment of dividends has been deposited in shareholder's accounts and I am confident that the outlook for the company's continuing profitability is promising especially in so far as the real estate developments in Saudi Arabia."
He also said KHC "is poised to capitalize on financial and strategic opportunities as they come up".
Tuesday's statement added that Kingdom Holding is still going ahead with its huge real estate Jeddah and Riyadh projects as planned.
© Arab News 2011
