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Saudi's Kingdom Holding Q1 profit rises 12.7 pct
May 7, 2017 / 6:34 AM / 5 months ago

Saudi's Kingdom Holding Q1 profit rises 12.7 pct

DUBAI, May 7 (Reuters) - Saudi Arabia’s Kingdom Holding , the investment firm owned by billionaire Prince Alwaleed bin Talal, posted a 12.7 percent rise in first-quarter net profit on Sunday from higher income and gains on investments.

* Net profit of 129.1 million riyals in the three months ending Mar. 31, versus 114.5 million riyals a year earlier, according to a bourse filing.

* 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 stakes in Rupert Murdoch’s News Corp and microblogging site Twitter .

* Like other Saudi companies, Kingdom Holding began reporting its results under international IFRS accounting standards this year, so some of its figures for last year were restated. (Reporting by Hadeel Al Sayegh)

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