Alwaleed's Kingdom Holdings posts 12% increase in Q2 net profit - The National

Alwaleed's Kingdom Holdings posts 12% increase in Q2 net profit - The National:

Saudi Arabia’s Prince Alwaleed bin Talal's Kingdom Holding reported a 12 per cent increase in second quarter net profit on the back of a rise in hotels and other operating revenues.

The Riyadh-listed company's net profit for the period ending June 30 climbed to 243 million riyals (Dh238m) compared with the same period a year earlier, it said on Thursday in a regulatory filing with the Tadawul market, where the firm’s shares are traded.

In addition to an increase in hotels and operating revenues, the company recognised a rise in income and gain on investments, an increase in dividend income and a rise in share of results from equity accounted investees, the company said.