The Clap
Saudi conglomerate Kingdom Holding (4280) saw its profits jump by 3.61% in Q2-2022.
The Deets
Profits recorded 427.15 million riyals after zakat and tax, compared to approximately 412.25 million riyals in Q2-2022.
The company attributed the increased profit to the increase in income from dividends and its hospitality operations.
In Related News
Kingdom Holding revealed last May that its billionaire owner, Prince Al-Waleed bin Talal, sold a 16.87% stake in the company to the Saudi Public Investment Fund (PIF).
This month, it also announced an investment of $3.4 billion in Russian oil companies.