Saudi Arabia: Kingdom Holding goes into the red


Issue 1106 - 03 Jul 2020 | 1 minute read

Prince Alwaleed Bin Talal’s Kingdom Holding Company reported a loss of SR54.9m ($14.6m) the first quarter, down from a profit of SR180.3m in Q1 2019. In a statement to the Saudi Stock Exchange (Tadawul) on 22 June, the company attributed its changing fortunes in part to a fall in hotel and other operating revenues, which fell 19% year-on-year to SR333.5m. Of greater significance was the lack of gains from investments, which a year ago contributed SR466.9m but this time came in at zero.

Want to read more?

Subscribe to Gulf States Newsletter

View subscription options

Join our community

Sign up for an account to gain:

  • Set up news alerts on the countries and sectors that matter to you.
  • Free access to newsletter articles under 100 words.
  • Free access to GSN View articles articles.


View a selection of Free articles

Explore subscription options

Follow us on Google News