Riyadh –   Kingdom Holding Company reported a 14.68% year-on-year (YoY) increase in net profit to SAR 196.19 million in the first quarter (Q1) of 2024 from SAR 171.07 million.

Revenues declined by 16.02% YoY to SAR 564.39 million in Q1-24 from SAR 672.12 million, according to the interim financial results.

The earnings per share (EPS) stood unchanged at SAR 0.05 in the three-month period that ended on 31 March 2024.

Quarter-on-quarter (QoQ), the company’s net profit jumped 24.90% in Q1-24 from SAR 157.07 million in Q4-23, while the revenues plunged by 22.61% from SAR 729.36 million.

In 2024, Kingdom Holding posted an 85.44% YoY drop in net profit to SAR 1.01 billion from SAR 6.95 billion.

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