Kingdom Holding Co. (KHC), which is owned by Prince Alwaleed bin Talal, reported SAR 265,998 thousand net profit for the fourth quarter of 2014, 15.03% higher than SAR 231,239 thousand in Q4 2013 and 0.38% above SAR 265,001 thousand in Q3 2014.
FY2014 bottom line also rose 17.05% year-on-year from SAR 742,471 thousand to SAR 869,069 thousand.
The earnings per share grew from SAR 0.2 to SAR 0.23.
The Tadawul-listed company ascribed Q4 profit rise y/y to increase in gain on investments and decrease in financial costs.
Q4 profit growth q/q was boosted by rise in gain on investments and revenue from hotels despite increase in the finance charges, KHC said.
It added that FY2014 profit rise was due to increase in gain on investments and revenue from hotels, in addition to decrease in finance charges.
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