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* Saudi's Kingdom Holding 4Q Net Profit -20% At SAR187.8M Vs Yr Ago
Saturday, Jan 21, 2012
(MORE TO FOLLOW) Dow Jones Newswires
21-01-12 0802GMT
Saudi's Kingdom Holding 4Q Net Profit -20% At SAR187.8M Vs Yr Ago
Saturday, Jan 21, 2012
RIYADH (Zawya Dow Jones)--Saudi Arabia's Kingdom Holding Co. (4280.SA), run by billionaire Prince Alwaleed bin Talal, said Saturday that net profit for the fourth quarter fell 20% to 187.8 million Saudi riyals ($50 million), compared with the same period in 2010.
Kingdom Holding , in a statement posted on the website of the Saudi stock exchange, cited the impact of Middle East unrest on hotel bookings, as well as an unspecified "decrease in performance from associates".
Prince Alwaleed, who owns 95% of Kingdom Holding , has focused his investments on banks, hotels and media companies, building sizable stakes in companies such as Citigroup Inc. (C), News Corp. (NWS), Apple Inc. (AAPL) and Time Warner Inc. (TWX). News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal.
Kingdom shares last traded Saturday 0.5% down at SAR10.0.
-By Ellen Knickmeyer, Dow Jones Newswires, +971 55 1093359, ellen.knickmeyer@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
21-01-12 0816GMT
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