Kingdom Holding turns to profitability in first 9 months

RIYADH: Saudi Arabia’s Kingdom Holding Co has announced that it turned into profit in the first nine months of 2021, after seeing its net profit jumping by 145 per cent, Arab News reported.

The company revealed in a filing that it made a net profit of SR612 million ($163 million), compared with a loss of SR1.37 billion during the same period last year.

The Kingdom Holding attributed the results to many factors, including increase in the share of results from the equity-accounted investees, increase in dividend income and the fall in the financial charges.