Prince Alwaleed Bin Talal's Kingdom Holding Co (KHC) reported on Tuesday a 48 percent jump in first-half net profit due to profits from its international hotels and domestic investments. KHC net earnings were SR210 million ($56 million), with SR135 million ($36 million) of that earned in the second quarter, it said in a statement. “I feel confident that KHC's financial results will continue to grow during the remainder of this year,” Alwaleed said. The group, with large investments in major global companies like Citigroup, Apple and News Corp as well as a number of luxury hotels, has struggled to rebuild profitability since the global financial crash left it with an $8 billion loss in 2008. In January, Alwaleed injected 180 million Citigroup shares from his personal holdings into Kingdom at no cost. Alwaleed controls about 95 percent of KHC.
