Saudi's Kingdom Holding posts 6% rise in Q4 net profit

Investment firm owned by billionaire Prince Alwaleed bin Talal says earnings boosted by rise in hotel revenue
Saudi's Kingdom Holding posts 6% rise in Q4 net profit
Saudi Arabias Kingdom Holding is the investment firm owned by billionaire Prince Alwaleed bin Talal.
By Reuters
Thu 19 Jan 2017 04:29 PM

Saudi Arabia's Kingdom Holding , the investment firm owned by billionaire Prince Alwaleed bin Talal, posted a 6 percent rise in fourth-quarter net profit on Thursday.

The company said in a bourse filing that it made net profit of 40.2 million riyals ($10.7 million) in the three months ending Dec. 31, versus 37.9 million riyals a year earlier.

It said earnings were boosted by a rise in dividends, and an increase in revenue and operating income from hotels and providing for impairment provisions in same quarter of last year.

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