Saudi Arabia's Kingdom Holding , the investment firm of Saudi billionaire Prince Alwaleed bin Talal, made a 9.4 percent rise in its second quarter net profit, it said in a bourse statement on Saturday.
The firm made a net profit of 178.9 million riyals ($47.70 million) during the second quarter this year, compared to 163.5 million riyals in the same period a year earlier.
The rise in profits were attributed to high profits from the company's investments and sale of real estate investments which made up for the loss made from hotel revenues in the Middle East due to unrest in the region, the statement said.
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