Prince Alwaleed: “Kingdom Holding’s profits reflect our sound investment strategy despite the challenges of the investment climate”
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) announced the Company’s financial results of operations for the first quarter ended March 31st, 2012.
The Company announced net income of SR 100.8 million, an increase of more than 11.2% over last year’s first quarter results, and Gross profit for the first quarter was SR 274.9 million compared to the same quarter in 2011 of SR 177.3 million, representing an increase of 55%.
Prince Alwaleed Bin Tala commented: “Kingdom Holding’s profits reflect our sound investment strategy despite the challenges of the investment climate.”
Mr. Shadi Sanbar, CFO, added: “Kingdom Holding is ready to deliver on its well- planned investments in the near term and beyond”.