Riyadh: Saudi investment firm Kingdom Holding Co.reported on Monday that fourth-quarter net profit rose 11.6 per cent to 209.6 million Saudi riyal (Dh204.5 million) from the same period a year ago, thanks to what the company said were gains from real-estate investments and lower finance charges. Kingdom Holding is controlled by Saudi Prince Al Waleed Bin Talal and holds international investments in fields including real-estate, luxury resorts and media. Operating profit rose 2 per cent year-on-year to SAR290.6 million in the three-month period that ended December 31, the company said in a statement on the website of the Saudi stock exchange. Prince Al Waleed owns 95 per cent of Kingdom Holding, according to Zawya.com. He holds sizable stakes in companies including Citigroup Inc., News Corp., Apple Inc. and Time Warner Inc. News Corp owns Dow Jones & Co, publisher of this newswire and The Wall Street Journal.
