Kingdom Holding's net profit jumps 13.9% in Q3


MENAFN - Arab News - 21/10/2009

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(MENAFN - Arab News) Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company (KHC), on Tuesday announced the company's financial results for the third quarter and the nine months ended Sept. 30, 2009. KHC posted net income of SR104.8 million, an increase of 13.9 percent when compared to the results for the second quarter of 2009. The consolidated net income for nine months totaled SR247.1 million.

During this quarter the value of KHC's portfolio has increased to SR6.1 billion or 37 percent as compared to the previous quarter ended June 30, 2009 due to the recovery in the global economy that contributed to the improvement in the local and international financial markets.

Reacting to the results, Prince Alwaleed said: "I feel very confident that Kingdom Holding's financial results will continue to grow during the remainder of this year. Kingdom Holding has in place a very well defined vision and its executive team is fully committed to achieving the company's financial results and objectives."

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