Kingdom Holding Company’s Q3 Profits Decline by 11.2% to SAR 347 Million

Kingdom Holding Company reported an 11.2% decline in net profit for the third quarter of 2024, reaching 347 million riyals, down from 391.2 million riyals in the same period last year. This was revealed in the preliminary financial results for the period ending September 30, 2024.

The company’s operating profit also decreased by 20.9% to 650.5 million riyals, compared to 823.1 million riyals in Q3 2023. However, revenues showed a slight increase of 0.63%, totaling 612 million riyals, up from 608.2 million riyals in the same quarter last year.

For the nine-month period, Kingdom Holding’s net profit rose 36.3% to 1.16 billion riyals, compared to 856.2 million riyals in the previous year. Earnings per share for the current period reached 0.32 riyals, up from 0.23 riyals last year.