Kingdom Holding’s net profit jumps 15% YoY in Q1-24

Reuters Images/Fahad Shadeed

Revenues declined by 16.02% YoY

Staff Writer, Mubasher

May 20, 2024

PHOTO

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.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.