Riyadh – Mubasher: Kingdom Holding on Thursday reported a 19.83% year-on-year profit increase during the first quarter of 2019, recording SAR 171.4 million.

The Tadawul-listed company attributed the growth of its profit to the increase in investment returns and the decline in operating costs, according to a bourse statement.

Quarter-on-quarter, the Kingdom’s profit soared 261.84%, while revenue jumped 81.09% YoY to SAR 929.09 million.

In March, the company reported a 2.7% year-on-year increase in net profit during the full year 2018, recording SAR 681.63 million ($181.72 million).