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Saudi Arabia: Collapse in revenues at Alwaleed’s Kingdom Holding
Prince Alwaleed Bin Talal’s investment vehicle Kingdom Holding (KH) has suffered a dramatic fall in its fortunes, with a 90% year-on-year drop in revenue in Q3 2019, to SR47.6m, and a 65% fall in profits, to SR86.8m. The figures, announced on 10 November, also showed revenues fell by 21% yr-on-yr in January-September 2019, to SR1.4bn. when profits dropped by 37%, to SR401.8m.
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