Kingdom Holding Company announced that its Board of Directors, headed by His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud, announced its financial results for the first quarter of this year, ending March 31, 2010, where company posted a net profit of SR 75.2 million, an increase of almost 50% over the same quarter last year.
In the recovery of the global economic situation and the positive results of operations, stockholders' equity increased 21.6 billion riyals, as one billion in 2009 to 25.8 riyals March 31, as in the Mars 31 August 2010 for a rate high of 19.5% or equivalent to about 1.14 SR book value per share. This is due to a significant improvement of the investment portfolio of the company, which we hope will improve the continuity of the vein, and also for the gift of stock, provided free by Citigroup and Prince Alwaleed bin Talal.
Prince Alwaleed commented: "We welcome the excellent results of Kingdom Holding Company for the first quarter, and through which we continue to give good value for shareholders and the construction of a fundamental pillar of sustained growth long term. The reason for this change to improve corporate revenues from improved operational performance in hotels, management companies, hotels, property investment, in addition to investment portfolio betterment of society. "
Prince Alwaleed commented: "We welcome the excellent results of Kingdom Holding Company for the first quarter, and through which we continue to give good value for shareholders and the construction of a fundamental pillar of sustained growth long term. The reason for this change to improve corporate revenues from improved operational performance in hotels, management companies, hotels, property investment, in addition to investment portfolio betterment of society. "