Kingdom Holding net income at $107m in '09
Riyadh, January 20, 2010
Kingdom Holding Company (KHC), a Saudi-based leading diversified investment company, has posted a net income of SR402.6 million ($107.35 million) for the 12 months ending December 2009.
The company also posted a net income of SR155.5 million for the fourth quarter of 2009, an increase of 48 per cent over the results for the third quarter.
During the fourth quarter, the company continued to pursue the development of its two real estate projects in Jeddah and Riyadh, a statement said.
"I feel very confident that Kingdom Holding’s financial results will continue to grow,” said Prince Alwaleed bin Talal bin Abdulaziz Alsaud, chairman of KHC.
“KHC continues on the path of profitability due to its sound and promising strategic investments locally, regionally and internationally. These positive results will drive future positive returns for shareholders. Kingdom Holding has a very well defined vision and its executive team is fully committed to achieving the Company’s financial results and objectives,” he added.
“We are pleased the worst of the global economic crisis is behind us and the company is on solid footing for continuing profitable results,” Prince Alwaleed concluded. – TradeArabia News Service