KHC Net Income Hits SR92m

JEDDAH - The Kingdom Holding Company, or KHC, has posted a net income of SR92.1 million — an increase of 83.4 per cent compared to the results for the first quarter of 2009.

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Published: Fri 24 Jul 2009, 1:46 AM

Last updated: Sun 5 Apr 2015, 10:30 PM

The consolidated net income for six months totalled SR142.2 million. “The Kingdom Holding Company returns to profitability through its sound strategic plan. I feel confident that KHC?s financial results will continue to grow during the remainder of this year,” Prince Alwaleed bin Talal, chairman of KHC, said in his announcement made in Riyadh on Tuesday. “The Kingdom Holding Company has in place a very well defined vision and its executive team is fully committed to achieving the company’s financial results and objectives,” he added.

Cash proceeds from the sales of certain company assets were used to reduce its total debt by SR2.8 billion

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