Riyadh – Mubasher: Kingdom Holding Company posted on Thursday a net profit of SAR 40.21 million ($10.72 million) for the fourth quarter of fiscal 2016, 6.1% up from SAR 37.91 million ($10.11 million) for Q4-15 and 77.65% down quarter-on-quarter.
The company attributed the rise in Q4 profits to the increase in revenue and operating income from hotels, according to a bourse statement.
Net profit for the fiscal year 2016 declined 27.9% to SAR 509.88 million from SAR 707.14 million for fiscal 2015.
