Islamic Finance

Saudi investment company Kingdom Holding returns to profit

Published 22 Aug,2021 via Arab News - Economy RIYADH - The Kingdom Holding Company in the Q2 of 2021 switched to profitability, compared with losses of more than a billion riyals on an annual basis.

The Kingdom Holding company is a diversified investment company, whose one of the main interests is tourism and hospitality.

Hotel income and other operating income grew and hotel operating costs decreased in the Q2 as general, administrative and marketing expenses declined.

The revenue of SR421 million, with increased by 96.5 percent in Q2 2021.

The profit is SR556 million for the losses of SR1.004 billion.

The profitability of the share for the H1 of 2021 was 13, compared with 32 losses in the H1 of 2020.

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