Saudi Arabia's Kingdom Holding Co. (4280.SA), run by billionaire Prince Alwaleed bin Talal, said Tuesday its second-quarter net profit rose 21% on year to 163.5 million Saudi riyals ($43.6 million), due mainly to higher income from investments.
First-half earnings per share came in at SAR0.07, compared with SAR0.06 a year earlier, while second-quarter operating income rose 4.7% to SAR183.5 million, Kingdom said in a statement posted on the Saudi bourse website.
'The reason for the change in net income is due to an increase in income from investments and dividends income,' the company said, adding that it the performances from associate companies and hotel operations were hit by the political woes in the Middle East.
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