JEDDAH — Kingdom Holding Company (KHC), Chaired by Prince Alwaleed Bin Talal, posted a 10.3 percent rise in first quarter net profit on Tuesday, on the back of higher income from dividends and associates, as well as to a fall in finance charges. KHC made a net profit of SR139.4 million ($37.2 million) in the three months to March 31, an increase of more than 10% over last year's first quarter results of SR126.4 million, it said in a statement. It attributed the increase to rising income from dividends and associates, as well as to a fall in finance charges. In February 2015, KHC's board of directors had announced the distribution of quarterly cash dividends for a total of SR163.9 million totaling to SR655.9 million for the year. Founded in 1980, KHC is a publicly traded company which was listed on Tadawul 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. The company is recognized as one of the largest foreign investors in the United States. KHC's portfolio has its major interests in investment categories ranging from luxury hotels management hotel companies (Four Seasons Hotels and Resorts, Fairmont Raffles Holding Intl and Mövenpick Hotels, Resorts AG and Swissotel) and real estate (Kingdom Tower and project in Jeddah and Kingdom Riyadh project) to hotel real estate investments such as (The Plaza, New York, Savoy Hotel, London and Four Seasons, George V Hotel, Paris and other hotels). — SG
