HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company announced the Company’s financial results of operations for the second quarter and the six months ended June 30, 2010. The Company announced net income of SR 135.4 million, an increase of 47% when compared to the results for the second quarter of 2009. The consolidated net income for six months totaled SR 210.6 million, which represents an increase of 48%.
The company is experiencing improving results from its hotel operations and its domestic entities.
HRH Prince Alwaleed said “Kingdom Holding Co. continues on the path of profitability through its sound strategic plan. I feel confident that KHC`s financial results will continue to grow during the remainder of this year. Kingdom Holding Company has in place a very well defined vision. Its Executive Team, with the recent addition of Sarmad Zok, is fully committed to achieving the Company’s financial objectives.”
Kingdom Holding is still going ahead with its huge real estate Jeddah and Riyadh projects as planned.