Sunday, Apr 21, 2013
RIYADH (Zawya Dow Jones)--Saudi Arabia-based Kingdom Holding Co. (4280.SA), on Sunday said its net profit in the first quarter rose 9.2% on year, helped by gains on investments, lower finance charges and a reversal of impairment loss.
The international investment firm, majority owned by Saudi Prince Alwaleed bin Talal, made a three-month net profit of 110.1 million riyals ($29.4 million), up from SAR100.8 million a year earlier, KHC said in a statement posted on the Saudi bourse website.
Income from its operations however fell 11.6% on year to SAR192.9 million for the last quarter, KHC said. It holds investments in various sectors including real estate, luxury resorts and media.
KHC shares closed 2.6% lower at SAR16.95 on Sunday.
Write to Ellen Knickmeyer at ellen.knickmeyer@dowjones.com
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(END) Dow Jones Newswires
21-04-13 1332GMT
