KINGDOM 2024 Profits Rise 22% to SAR 1.23 Billion

Kingdom Holding Co. (the Company) announced on Monday that its net profit increased to SAR 1.23 billion by the end of 2024, compared to SAR 1.01 million in 2023, following the announcement today of the preliminary financial results for the duration ending Dec. 31, 2024.

The operational profit decreased by 4% to SAR 2.38 million by the end of 2024, compared to SAR 2.49 million the year before.

Shareholders’ equity (excluding non-controlling interests) in the current year increased by 11% SAR 39 million, compared to SAR 35 million in 2023.

The profits per share for the current year amounted to SAR 0.33, compared to SAR 0.27 in 2023.

The Company stated in a statement today on Tadawul that the reason for the decrease in revenues this year, compared to the previous year is due to a decrease in dividend income and a decrease in profit from investments at fair value through profit or loss, despite an increase in hotel revenues and other operating income.