Saudi Arabia’s Kingdom Holding Co., in which the PIF has a 17% stake, has more than doubled its Q2 net profit to 624.2 million riyals ($166.5 million) compared to year ago period.
Revenue came in at SAR 647 million, down 7% YoY on lower dividend income and decrease in hotels and other operating revenues.
For H1 2024, the holding company whose portfolio includes Citi and the social media platform X, made a net profit of SAR 820 million, a year-on-year jump of 76%.
(Writing by Brinda Darasha; editing by Seban Scaria)
brinda.darasha@lseg.com
