KHC net income rises to SR291m

Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, has announced the consolidated financial results for the second quarter and the six months ended June 30, 2013, and said: “KHC’s sound investment strategy led to strong results.”
The company announced a net income for the six months ended June 30, 2013, of SR 291 million compared to the net income of SR279 million for the same period in 2012.
The second quarter results of SR181 million, as compared to the net income of SR110 million in the previous quarter, represents an increase of 64.6 percent. The gross operating profit for the quarter ended June 30, 2013 amounted to SR333 million compared to the same quarter in 2012 of SR238 million, representing an increase of 40 percent.
Shadi Sanbar, KHC’s CFO, said: “The second payment of dividends has been deposited in shareholder’s accounts. The outlook for the company’s profitability remains strong. He added, “KHC is exploring strategic opportunities to further enhance its asset base and add value to its shareholders.”