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Bin Talal’s Kingdom Holding turns profitable in FY17

Bin Talal’s Kingdom Holding turns profitable in FY17
Bin Talal’s Kingdom Holding logs SAR 663.57m profit in 2017
KINGDOM
4280
0.14% 7.10 0.01

Riyadh – Mubasher: Kingdom Holding Co on Thursday reported it has turned profitable in 2017 with a net profit of SAR 663.57 million, against a net loss of SAR 349.98 million in 2016.

The increase in net profit was driven by the growth in dividends income and higher income and gains from investments, the company added in a filing to the Saudi Stock Exchange (Tadawul).

The company’s revenues climbed by 25.8% last year to SAR 2.36 billion, up from SAR 1.87 billion in 2016.

Kingdom Holding’s stock closed Thursday’s trading session down 0.4% to SAR 9.02.