Kingdom Holding Q1 profit rises 50%

21 April 2010

Saudi-based Kingdom Holding, 95% owned by Prince Alwaleed bin Talal, has said its first-quarter net profit rose by 50% to SR75.2m ($20m) against SR50.2m a year-earlier, Reuters has reported. Subsidiaries and investments performed well with resilient revenue growth delivered across our hotels and real estate investments as well as a recovery in our investment portfolio,' Prince Alwaleed said in a statement. Kingdom is a main shareholder in Citigroup Inc, which on Monday reported its best quarterly results since 2007.

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