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21/04/2015 20:36 AST
Saudi Arabia's Kingdom Holding , the investment firm owned by billionaire Prince Alwaleed bin Talal, posted a 10.3 per cent rise in first-quarter net profit on Tuesday, on the back of higher income from dividends and associates.
Kingdom make a net profit of SR139.4 million ($37.2 million) in the three months to March 31, compared to SR126.4 million in the same period a year earlier, it said in a bourse statement.
It attributed the increase to rising income from dividends and associates, as well as to a fall in finance charges.
The investment firm has minority stakes in some of the world's top companies. Aside from being one of the largest shareholders in Citigroup, it owns a stake in microblogging site Twitter.
In February, Kingdom sold a 5.6 per cent stake in media giant News Corp as part of a portfolio review, generating SR705 million in cash. It retains one per cent of the media company.
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Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
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