JEDDAH, Saudi Arabia Jan 21 Saudi Arabia's
Kingdom Holding, the investment firm of billionaire
Prince Alwaleed bin Talal, posted an 11.6 percent increase in
its fourth-quarter net profit, it said in a bourse statement on
The firm made a net profit of 209.6 million riyals ($55.9
million) during the three months ending in December, compared
with 187.8 million riyals in the same period a year earlier.
"The increase in net income for the current period compared
to the same period last year is due to an increase in income
from real estate investments, gain on sale of certain hotels,
increase in dividend income and decrease in general and
administrative expenses," the statement said.
Operational profit for the fourth-quarter rose by 2 percent
to 290.6 million riyals compared with 285 million riyals in the
same period a year earlier.
The investment firm has minority stakes in some of the
world's top companies. Aside from being one of the largest
shareholders in Citigroup, it also owns stakes in Rupert
Murdoch's News Corp and microblogging site Twitter.
The firm said in December it will book a $32.9 million
profit on the sale of New York's Plaza Hotel to an Indian