RIYADH – Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, reported consolidated net income of SR707 million for 12 months ended Dec. 31, 2012, an increase of 10.5 percent over last year's, while the fourth quarter results of SR210 million exceeded last year's by 11.6 percent, the company said in a statement Monday. Shadi S. Sanbar, the company's CFO and member of the Investment Committee, highlighted the achievements for the year 2012, saying, among others, that KHC realized significant gains from sales of certain real estate land sales in Riyadh, and recognized profit from the sale of hotels together with improving results from its three hotel management companies. In addition, the general improvements in the equities market, both domestically and internationally, coupled with improving results from its associated companies and income on investments contributed favorably to the overall success in 2012.” Moreover, “the 136 percent increase in share price in 2012 was the highest in Saudi Arabia and reflects the overall market confidence in the Company's sustained ability to deliver and realize substantial value to its shareholders,” Sanbar added. Founded in 1980, KHC is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007. KHC is one of the world's most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player in the Arabian Gulf region, and internationally. KHC's portfolio has its main interest in landmark hotel properties and hotel management companies, real estate development in Jeddah and Riyadh, financial services, technology and media, manufacturing, aviation and agriculture. — SG
